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Euro Offers Protection Against FX Speculation, Says ECB's Nowotny

Even in Great Britain, the idea is no longer that far off, Nowotny said in an interview with Austrian newspaper Oberösterreichische Nachrichten, published on Wednesday.The central banker's comments mirror those of EU Monetary Affairs Commissioner Joaquin Almunia, who said he sees no chance of any country leaving the euro zone and that, conversely, the chances are high that some Nordic countries and the UK could join.Written by CEP News European Staff, eunews@economicnews.ca, edited by Stephen Huebl, shuebl@economicnews.caCEP Newswires - CEP

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EU Preview: ECB Press Conference Likely to Hint at Cut in March

While ING Wholesale Banking senior economist Carsten Brzeski expects the ECB to decide to keep its refi rate unchanged, he is looking for clear hints that the central bank will resume its rate cutting cycle in March.However, such hints would likely not come during the introductory statement, but rather during the question and answer segment of the conference, when Trichet will try to give a clear indication of what the ECB will do in the upcoming month.Brzeski is also hoping

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ECB's Trichet Says Rates at Zero Would be "Inappropriate" (Update)

You have a number of anomalies that might appear when you are zero, Trichet said in an interview with Dutch television broadcaster RTLZ on Friday. It is full of drawbacks.However, Trichet added that there were other instruments that could be utilized, even if rates did come down to such levels.At its meeting on Thursday, the Governing Council voted unanimously to keep its main refinancing rate unchanged at 2.00%. However, acknowledging that inflationary pressures are easing and that growth would remain

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UK Preview: Further Clues on Policy to be Revealed in BOE Inflation Report

According to Barclays fixed income strategist Moyeen Islam, the Bank of England's

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Aussie Dollar Could Drop on Weaker-than-Expected Employment Report

The Antipodean currency has experienced a choppy ride during the past week. A wave of risk aversion on Tuesday caused the Aussie dollar to drop two cents and give up most of its gains during the week.Today the Aussie dollar has remained relatively range bound, hitting a session high of 0.6601 USD and a session low of 0.6483 USD. The Aussie dollar is up 0.23 cents to 0.6571.Strategists are waiting for January's employment number, which they said could add to

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Deltastock Daily Fx Analysis

March 6, 2009Current level-1.2698EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721. As expected, the slide from 1.2662 bottomed at 1.2477 and probably the final leg of the corrective phase above 1.2457 is underway, targeting 1.2753. Keeping in mind, that 1.2735-53 is a strong resistance zone, we will expect reversal around these levels to provoke renewing of

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EU Preview: ECB Expected to Leave Rates Unchanged at Thursday's Meeting (Repeat)

ECB President Jean-Claude Trichet has repeatedly said the Governing Council meeting in February is not considered

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ECB's Ordonez Says "Very Probable" Rates Will Come Down in March

We can clearly keep cutting from 2% and it's very probable that in the next session we will cut, Ordonez told reporters in Zaragoza, Spain on Wednesday. However, the central banker hesitated when asked whether the ECB could bring its refi rate to as low as zero. At the moment, I wouldn't even consider it because we're still very far from that situation.Ordonez, also the Governor of the Bank of Spain, warned that Spain needs to implement structural reforms to

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Deltastock Daily Fx Analysis

April 7, 2009Current level-1.3389EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.2951 and 1.3834. As expected, the pair peaked at 1.3582 and a downtrend emerged from recent highs, that currently consolidates above the 1.3319 dynamic support. The overall bias remains negative for 1.3261 and 1.3092.Full Article

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USD/CAD Under Pressure as Markets Wait for Financial Bailout Plan

Domestic data had no impact on the Canadian dollar as FX markets ignored Friday's surprising drop in employment in January and Monday's soft housing starts report, also for January.Sentiment in the stock market remains relatively positive over Treasury Secretary Timothy Geithner's plans to save the financial system. His press conference, originally scheduled for today, was postponed until Tuesday. The USD/CAD ran into strong selling at just below the 1.3000 level in overnight trading and is struggling to hold on to

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