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GoForex Reports: Euro & Dollar – two titans collide once again on the battle field of the 1.4300!
Written by article default Sunday, 30 August 2009 07:09
Euro & Dollar – two titans collide once again on the battle field of the 1.4300!
Strong performance from Asian and European equity markets continue to push the commodity currencies as well as the Euro higher against the USD and the JPY. We recommend traders to pay major attention to the EUR/USD pair where bulls and bears continue to fight for the control of the 1.4300 zone.
Australian Dollar
Australia, aka china's derivative, continues to rally across the board as Chinese manufacturing expanded at the fastest pace in a year. The Australian dollar continues to be a very good trade for traders who believe the recovery is well under way. We cannot stress enough the importance of Chinese economic news and its effect on the AUD, we highly recommend that traders with exposure to the AUD monitor Chinese economic news with the same perseverance they follow the Australian news.