Wednesday, January 4, 2012
US factory orders rose 1.8% in November but the headline is close to market expectations so there is little in the release to spark fresh US unit gains. EUR/USD recovered back into the 1.2950s before finding fresh offers but 1.29318 still marks the intraday lows. Further weakness still the longer-term prognosis but dealers await the trigger for a return to the upper-1.28s
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