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17 Oct 2024
Trading news
Oct 17, 2024
EUR/AUD weakens on combo of ECB rate cut and Aussie employment data
EUR/AUD falls by almost three-quarters of a percent to the 1.6180s on Thursday after a combination of stronger-than-expected Australian labor market data boosted the Australian Dollar (AUD) whilst the Euro (EUR) depreciated ahead of the European Central Bank’s (ECB) decision to cut interest rates, and remained under pressure as the bank telegraphed a mildly negative economic outlook for the region going forward.
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