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Forex Flash: US Trade Deficit to narrow through higher exports – TD Securities

The US will release its Trade Deficit data and consensus expects the trade deficit to narrow from $-48.73B to $-45.80B. TD Securities too look for a slightly smaller trade deficit than consensus in December, “as the lagged impact from lower energy prices and further improvement in export activity temper the trade imbalance”. “We expect the deficit to narrow to $45.5B (consensus: $46.0). The outlook for the trade sector remains favorable as the lagged impact from the recent fall in energy prices and improvement in global demand should bolster net trade activity”, wrote analyst Richard Kelly.

Forex: EUR/CHF breached 1.2300

The Swiss franc continues to gather buying interest on Friday, accentuated after the unemployment rate in the Alpine economy dropped to 3.1% in January, beating expectations and previous prints at... 3.2% expected and November’s +3.0%.
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Forex: USD/JPY turns weekly candlestick to “red”

After reaching as high as 94.06 after news that BoJ Governor Shirakawa announced his decision to leave office earlier than expected, the USD/JPY is threatening to do the long expected correction lower. Reports that Japan PM Shinzo Abe is finding resistance in his quest to act agressively in both fiscal and monetary policies. “Abe's desire for much bolder monetary easing is reportedly meeting resistance from inside the MoF, the BoJ, and even within his own cabinet, on fears that radical easing could unsettle the JGB market”, wrote UBS analyst Gareth Berry.
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