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The Dollar Trade At One-Month Lows

Jul. 24, 2013 5:49 AM ET
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FX Trading Opportunities

Forex Trading Event July 24 - 29

July 24 - The Dollar Trade at One-Month Lows

The dollar trade at one-month lows after extending a broad decline for a third session. The dollar index traded at 82.014, following a 0.3 percent fall on Tuesday. It has slid about 3 percent from a high of 84.753 early this month.

Asian shares: Japan's Nikkei -0.32%, Hong Kong's Hang Seng 0.04%(07:00 GMT), Korea's Kospi 0.42%, Australia's ASX 200 0.34% and China's Shanghai -0.525%.

Germany Manufacturing production rises at fastest pace for 17 months in July. Data signaled a solid rebound in German private sector output growth, driven by faster rates of expansion in both manufacturing and services. At 52.8 in July, up from m 50.4 in June.

French private sector output falls at slowest rate in 17 months.

Greek aid tranche payment delayed, according to German finance ministry.

Europe's biggest banks, which more than doubled their highest-quality capital to $1 trillion since 2007 to meet tougher rules, may have further to go as regulators scrutinize how lenders judge the riskiness of their assets. Deutsche Bank AG (DBK), Barclays Plc (BARC) and Societe Generale SA (GLE) are among European banks that issued stock, sold units or hoarded earnings to bring capital, as a proportion of assets weighted by risk, into line with new global rules.

Federal Reserve Chairman Ben S. Bernanke in September will trim the Fed's monthly bond buying to $65 billion from the current pace of $85 billion, according to a growing number of economists surveyed by Bloomberg News.

Japan's export growth unexpectedly eased in June from a year earlier. The 7.4 percent increase in exports in the year to June was less than the median estimate for a 10.3.

China's economy may be facing a period of instability and imbalance as it transitions from high-speed growth a state researcher said. "Growth inertia should not be underestimated, as new growth engines and patterns have not been formed,", "Market expectations are unstable, downward pressure has increased, and existing and new structural mismatches exist. The economy has become unstable and uncertain like never before."

Turkey Central Bank Raises Overnight Lending Rate To 7.25% From 6.5%.

Watch today: German & US PMI, UK CBI industry trend orders.

By Zulutrade

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