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EUR/USD – the euro has recovered yesterday on the dollar and is trading around 1.3290 as investors sold dollars on profit-taking and which are awaiting the president’s speech Yellen that take place today in front of the symposium economic Jackson Hole.

The profit-taking pushed down the dollar since many investors are betting that the Fed Chairman, Yellen, will conciliatory words in speech at Jackson Hole to balance the more aggressive attitude shown by the minutes to make it clear to the markets that even if rates will rise the monetary authority will try to keep even the expansionary policy.

European data showed that manufacturing activity in the eurozone slowed reaching a low point in a year and the PMI manufacturing index fell to 50.8 from 51.8 in July.

USD/JPY – Dollar is breaking the narrowest trading range against the Japanese yen and traded around 103.80 while the Fed continues to show signs that herald the imminent rise in interest rates.

USD/CAD – the United States dollar fell against the Canadian dollar and is trading at 1.0930 after the release of positive reports on applications for unemployment benefits while investors could secure the gains made sign with the recent rally of the dollar against other major currencies.

Raw materials

GOLD – is trading around 1279.00 pending the increase in interest rates and the words of the President Yellen’s speech today.

CRUDE OIL – prices fall during the Asian session and is trading around 93.80 and go up the fuel stocks in the United States and increasing signs of a slowdown in the Chinese economy.

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