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The U.S. dollar regained ground against most of its counterparts on Monday even though they printed weak economic data.
AUD/USD had a sharp selloff since Thursday last week as weak Chinese data and weak Australian data have been weighing the pair down.
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As expected, the U.S. retail sales data printed bleak figures and triggered a dollar selloff.
EUR/USD has been having a difficult time breaking past the 1.3100 major psychological resistance level.
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The U.S. dollar could be in for another sharp selloff during today’s U.S. session as the retail sales report is set for release.
USD/JPY has been stalling around the 99.50 minor psychological area for the past few days already, suggesting that yen bears may be running out of steam.
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The U.S. dollar had quite a topsy-turvy ride at the start of the U.S. session when the FOMC meeting minutes were suddenly released early.
AUD/USD suffered a quick selloff during today’s early Asian session when Australia printed weaker than expected jobs data.
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The U.S. dollar continued to suffer losses against most of its major counterparts, except for the Japanese yen, as the weak March NFP figure dashed hopes of earlier than expected monetary policy tightening from the Federal Reserve.
AUD/USD seems to have breached the 1.0500 major psychological level already and appears poised to test the next resistance at 1.0600.