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Aussie closes higher vs dollar |
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The Australian dollar got a lift Friday as the country’s central bank painted a luminous outlook for the economy, suggesting interest rates and the currency were set to rise a lot further over time.
At close, the Australian dollar was buying 91.34-37 cents. It was also worth 55 pence, 61.4 euro cents and 82.7 yen.
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Pointing to buoyant trade, investment and population growth, the Reserve Bank of Australia (RBA) sharply upgraded its forecasts for economic growth.
Aussie also hit a three-month high against the New Zealand dollar on Friday.It rose to as far as NZ$1.2662 after breaking a key level of NZ$1.2600.
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| FOREX Reports |
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Rouble steadies against majors |
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Russia’s currency, the rouble held stable near recent 14-month highs on Tuesday, propped up by domestic tax needs. |
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Euro rises against dollar, yen |
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The euro gained against the dollar, yen and the franc but fell against the pound ahead of the release of the German ZEW economic sentiment report for March and the revised consumer price inflation data from the Euro-zone for February.
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Greenback mixed in European trade |
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The greenback remained mixed against major currencies in early European trade Tuesday, ahead of the outcome of the U.S. Federal Reserve's policy meeting.
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| Technical Calls |
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Are gold speculators on Comex falling? |
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The bullish position held by speculative traders in Comex Gold Futures remains "almost flat at 33.6% of open interest," he adds – "still well below the 42%" of all open contracts reached in September 2009. |
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Fed interest policy to boost gold, silver prices |
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Gold and silver traded as much as 1% above yesterday’s close in Asia and London on Tuesday, before they both jumped even higher in New York following the US Federal Reserve's latest "no change" decision on interest rates. |
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Rising interest rates to fuel demand for gold, silver |
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We are a long way from there yet and gold is likely to be correlated with rising interest rates and only fall towards the end of the interest rate hiking cycle. It is worth remembering that the 1970s gold bull market only ended with interest rates cl |
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Mentha oil futures traded with mixed note on the MCX counter Tuesday due to continuing profit taking at the higher level. |
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Chana futures tumbled in the early trading session Tuesday as traders indulged in profit taking due to the higher supply in the domestic spot market.
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Cardamom futures spurted Tuesday on the back of revival in demand spot market amid short supply. MCX cardamom April contract ended the session higher by Rs 11.80 at Rs 1,206.10 after hitting the high of Rs 1216.90 per 1 kg. |
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