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Markets Stabilize

Little to Report in USD

The US dollar was slightly higher over the European morning on Tuesday. The index rose to 97.16 last, keeping its head above the 97.10 level. Looking ahead to today’s US session, there is very little on the data sheet. Therefore, we expect quiet trading.

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Soft ZEW Surveys Hit EUR

EURSD traded lower over the day so far with sentiment weighed upon by a set of weak data from the eurozone and Germany. ZEW surveys were weaker than expected with both counts printing minus figures. EURUSD remains above 1.1217, for now, but is turning lower quickly.

GBP Down on Weak Wage Growth

GBPUSD has found itself lower again today, with the pair now back firmly below the 1.30 level. This morning, the latest data from the ONS showed that despite unemployment ticking lower again in the 3 months to March (3.8%), wage growth came in lower than expected at 3.2% vs 3.4% expected and 3.5% last.

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