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Forex Flash: EUR/AUD eyes pullback across multiple timeframes – Westpac

The EUR/AUD is showing tentative signs of pullback after a steep rise – near-term the pair should consolidate around 1.2930/1.3050. However according to Sean Callow, an FX Strategist at Westpac, “Given evidence that
Japanese investors
are rebuilding EUR
holdings partly at the
expense of AUD risks for the EUR/AUD are to the upside over the next 2-3 months, perhaps as far as 1.3300.”

This will depend on the Eurozone maintaining its improved financial conditions – hardly a certainty given the rolling political crises of the past few years. “Indeed on a 6-12 month outlook we see EUR/AUD back to 1.2500.” Callow predicts.

Forex: EUR/GBP hovering over 0.8575

After a failed attempt to rebound to the 0.8590 area, the pair is now back to the zone around 0.8575, after retail sales in the euro zone have contracted further during December. In fact, sales dropped 0.8%...
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Hollande advocates creating an exchange rate policy for the Eurozone

Eurozone political group leaders, together with French President François Hollande and European Commission President José Manuel Barroso gathered at the European Parliament in Strasbourg on Tuesday to discuss the future of the European Union and the Eurozone, the economic crisis and the EU budget for 2014 to 2020.
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