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Forex: USD/CAD recovers the mark of 1.0260/62

FXstreet.com (Barcelona) - The USD/CAD has emerged out of a second trough today during US trading, after an attempt at the downside was fortified at the 1.0242 region. However in recent minutes, the cross has pared a portion of its losses, thereby lifting it up towards the 1.0260/62 level, where it resides presently. Despite this movement higher, however, the pair is still trading negatively, operating -0.14% off its opening.

The Fed kept interest rates held at 0.25% earlier today, while reiterating its commitment to bond buying purchases. With concerns to the CAD, the price of crude has moved higher during American trading to settle at USD $93.27/bbl.

According to the Matat.net Analyst Team, the USD/CAD will face calculated support at 1.0227, ahead of 1.0187, and ultimately 1.0158. On the ascension, a break above 1.0296 will activate resistances at 1.0325 and 1.0365.

Forex Flash: GBP inflation is secondary to economic recovery in UK – ANZ

Concerns about sterling’s weakness and inflation are subordinate to the need to stimulate economic activity, fix the banks and get the economy going. According to the ANZ Research Team, “If there are no meaningful demand-pull or cost-push drivers of inflation, then any rise in the CPI as a result of sterling's slide will be temporary and the BoE can ease policy further.”
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Wall Street closes higher after the Fed reaffirms stimulus

The US stocks market closed higher on Wednesday as Cyprus fear eased and the Federal Reserve lowered its unemployment forecast for the upcoming years and affirmed QE as they cut growth expectations.
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