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Upbeat US factory activity lift Dollar, stocks edge up


-0.13% from
1.73% (1.76%).
AUD/USD – The Aussie Battler slumped to 0.7730 at the close of New York trade, down 0.66% from Friday’s opening at 0.7772. The failure of the Australian Dollar to trade comfortably above strong upward resistance at 0.78 cents last week as well as overall USD strength pressurised the currency. The fall in Australia’s Composite Index offset the strong rise in Retail Sales driving the Battler to the lower end of its trading range.
EUR/USD – Speculative long Euro bets headed for cover following the contrast between the US (upbeat) and Eurozone (mixed) PMI reports. Germany’s Manufacturing PMI report underwhelmed with a 64.0 print, from a previous 66.2. The shared currency reversed lower after hitting an overnight peak at 1.2240, to 1.2180 at the New York close. Overall US Dollar strength is weakening the upside momentum in the Euro. ....

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