04/07/08 - Daily Forex Market News from cmsfx.com

Recap: Aussie Gains on Greenback; EUR/USD Pares Earlier Losses on Euro-zone Sentix Investor Confidence Data

The Australian Dollar shrugged of weaker fundamental data (Construction PMI & Building Approvals) to climb against the US Dollar and Yen. The Euro, after initially falling to the Greenback, recovered as investor confidence data (Sentix) surprised on the upside. The CAD/JPY pair formed a double top formation after building approvals fell by 1% in Canada.

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