Currencies

  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD $EURUSD Euro EUR/USD (Daily) The EUR/USD has bounced at the support trend line (Green). The bullish bounce has strong resistance levels above it and a break of the top and the 38.2% Fibo at 1.17 was not expected. The EUR/USD did show a Bullish bounce at the bottom (wave B) ...
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  • HEFFX Live Trading Update

    HEFFX Live Trading Update

    MARKET PULSE US Fed at Jackson Hole: Gearing up to hike amidst rocky terrain US Fed's Fischer said he's confident inflation will rise, though undecided on Sep. hike US Fed's Lockhart said time to raise is close USD futures show a 38 % chance the Fed will raise rates in Sep USD futures show a ...
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  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD $EURUSD Euro The EUR/USD tried to drive higher last week and marked 1.1712,  but closed lower at 1.1184 in a volatile market. Price traded a little higher earl Monday hit 1.1226. The bias is Neutral near term. Overall technical outlook is Neutral in here, on the possibility that last week's ...
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  • China Plays Down Trade Impact Of RMB Yuan Depreciation

    China Plays Down Trade Impact Of RMB Yuan Depreciation

    China Plays Down Trade Impact Of RMB Yuan Depreciation $USDCNY The Ministry of Commerce (MOC) has defended China's overhauling of its exchange rate formation mechanism, a move which has seen a significant drop in the RMB Yuan's central parity rate Vs the USD. There has been concern in the international market over the connection between ...
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  • China's Currency War Hits South East Asia

    China’s Currency War Hits South East Asia

    Faced with falling exports and deflation risks it suited much of Asia to let their currencies drift lower until China's abrupt devaluation triggered a tide of volatility that is upsetting not just their currency management but also their growth strategies. China's 2 percent devaluation on Aug. 11 added to evidence that its economy was struggling ...
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  • HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF

    HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF

    EUR/USD Summary : Target Level : 1.1232 Target Period : 5 hours Analysis : Channel Up identified at 28-Aug-09:30 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.123 within the next 5 hours. Resistance Levels : ( B ) 1.1311Last resistance turning point of Channel ...
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  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

      Forex Technical Analysis For: EUR/USD Euro EUR declined sharply Wednesday and weakened further Thursday trading . This leaves the pair targeting its Key support at 1.1128. 1st support lies at 1.1200, a break there points at 1.1150, a break there sees 1.1100, next target at 1.1050. The daily RSI is Bearish and points lower ...
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  • HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF

    HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF

    EUR/USD Summary : Target Level : 1.1271 Target Period : 2 days Analysis : Approaching Support level of 1.127 identified at 27-Aug-08:00 2015 GMT Chart date range : 27-Jul-09:00 GMT-> 27-Aug-11:00 GMT Data interval : 30 Minutes RSI: 34 Candles MA: 34 Candles Trade with HEFFX USD/JPY Summary : Target Level : 121.2789 Target Period ...
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  • HEFFX Live Trading Update

    HEFFX Live Trading Update

    MARKET PULSE Fed NY President. Dudley-"case for raising interest rates in Sep is less compelling " The U.S. economy grew 3.2 % in Q2 , forecast of 2.3 % EUR is moving in the opposite to Stoxx Europe 600 and S&P500 by the most in a decade The euro rose more than 7 % in ...
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  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD Euro Note: the USD rose by the most in 5 months Vs EUR) EUR closed lower Wednesday. The low range close set the stage for a steady to lower open Thursday. Stochastics and the RSI have turned Neutral to Bearish indicating that a short term top is in or near. Closes ...
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  • HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF

    HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF

    HEFFX Daily FX Alerts, $EURUSD, $GBPUSD, $USDCAD, $USDJPY, $AUDUSD, $USDCHF EUR/USD Summary : Target Level : 1.1316 Target Period : 2 days Analysis : Triangle has broken through the support line at 26-Aug-11:00 2015 GMT. Possible bearish price movement forecast for the next 2 days towards 1.132. Supporting Indicators : Downward sloping Moving Average Resistance ...
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  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD Euro The EUR/USD momentum spike has driven the price up to the long-term 38.2% Fibo retracement level of wave 4 (Blue). A Bearish turn around for a Blue wave 5 can happen between 1.17 and 1.18, a strong resistance zone. The strong momentum could indicate the potential for a Bullish ...
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  • Currency Wars and Emerging Markets

    Currency Wars and Emerging Markets

    hailand's baht. Kazakhstan's tenge. South Africa's rand. Peru's nuevo sol. In emerging markets worldwide currencies are plunging over fears that developing economies are on the verge of a crippling fall. Success stories until recently emerging economies are seen as casualties now of slower growth in China plunging prices for commodities like oil and iron ore ...
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  • Daily FX Market Update

    Daily FX Market Update

    China yet again plummeted overnight as fears of a global economic slowdown hit markets for a second day. Monday is being called the "Great Fall of China" after stocks fell 8.5%, now during Tuesday's session stops in Shanghai have fallen 4% lower. The reaction from the rest of the world will be interesting today to ...
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  • USDZAR South Africa Economic Update

    USDZAR South Africa Economic Update

    USDZAR South Africa Economic Update South Africa's economy unexpectedly shrank in the second quarter, data showed Tuesday, raising fears of a recession as gross domestic product fell by an annualised 1.3 percent, surprising analysts who had predicted a small rise. The slowdown was across the board, with manufacturing, mining and agriculture industries lagging the most ...
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  • China's Rate Cut will Not Lift Stocks Long Term

    China’s Rate Cut will Not Lift Stocks Long Term

    China's Rate Cut will Not Lift Stocks Long Term China, one of the main engines of the world economy, has overtaken Greece at the top of the worry list of global investors, who fret its economy is growing at a much slower pace than the official 7 percent target for 2015. "Currently, there is still ...
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  • US Dollar Dives As Fed Rate Hike Dims

    US Dollar Dives As Fed Rate Hike Dims

    US Dollar Dives As Fed Rate Hike Dims The US Dollar dove Vs most major currencies Monday as participants lowered their expectation for a Fed interest-rate hike this year following a major selloff in global financial markets. US stocks dove deep on the open Monday, with the DJIA falling below 16,000 for the 1st time ...
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  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD Euro EUR/USD The EUR/USD saw Bullish momentum last week tapping  1.1387 and hit 1.1453 early Monday. As you can see the daily chart, price moved above the daily 200-Day EMA indicating the continuation of the Bullish especially if price able to make a clear break above the daily 200-Day EMA. ...
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  • Understanding Bitcoin

    Understanding Bitcoin

    Frenchman Mark Karpeles, 30, the CEO of collapsed Bitcoin exchange MtGox, has been arrested in Tokyo on theft allegations as Japanese investigators grill him over the disappearance of hundreds of millions of dollars worth of the virtual currency. Trading Bitcoin Here are some key facts about Bitcoin. Q. What is it A. Bitcoin is a ...
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  • China, Currency Wars and the Rest of Us

    China, Currency Wars and the Rest of Us

    China, Currency Wars and the Rest of Us The global economy in 2015, according to QNB a few months ago, is likely to be dominated by two factors: the sharp decline in commodity prices, especially oil, and the large movements in the exchange rates market. Lower commodity prices shift income from commodity-exporting countries to commodity-importing ...
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  • Forex Trading: How To Find, Enter And Exit A Trend

    Forex Trading: How To Find, Enter And Exit A Trend

    Forex Trading: How To Find, Enter And Exit A Trend The 3 Key steps that every trader must take in order to trade trends successfully  Trading trends is one of the most popular ways to trade the forex market among both novice and expert traders. The popularity of the method rests partly upon the clarity ...
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  • China's RMB Yuan Stabilizes Against USD

    China’s RMB Yuan Stabilizes Against USD

    China's RMB Yuan Stabilizes Against USD Chinese currency has been stable against the USD for a week, suggesting the market has calmed down after last week's jolting depreciation. Over the last week, the spot USD/CNY exchange rate has hovered at around 6.39, three percent higher than before the central bank's reforms on the yuan's central ...
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  • China Slowdown Hits USDJPY

    China Slowdown Hits USDJPY

    Concerns already exist with the fragile recovery in Japan's economy as demand falls in neighboring giant China, which added up to the Japan's exports declining in July. Despite the fact of Japan's exports rising 7.6 percent last month from a year ago, due to growing vehicle shipments, the volume of goods fell 0.7 percent from ...
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  • HEFFX Live Trading Update

    HEFFX Live Trading Update

    China has yet again sparked the major markets into panic after the manufacturing output number it a new six and a half year low. Yesterday saw the major indices take a beating and saw the oil price plummet, with the price today testing the $40 level. The major indices are now trying to stage some ...
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  • Developing Nations Abandoning The Defense Of Their Currencies

    Developing Nations Abandoning The Defense Of Their Currencies

    Developing Nations Abandoning The Defense Of Their Currencies Thursday’s 22% in the Tenge after Kazakhstan abandoned control of its currency exchange rate revealed the sense of urgency among policy makers. They had tried a managed depreciation on Wednesday. The escalation signaled to investors that it has become too costly for developing nations to defend their ...
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  • IMF Extends Current SDR Currency Basket Until September 2016

    IMF Extends Current SDR Currency Basket Until September 2016

    IMF Extends Current SDR Currency Basket Until September 2016 The Executive Board of the International Monetary Fund (IMF) recently approved the extension of the current special drawing rights (SDR) valuation basket by 9 months from 31 December 2015 to 30 September 2016. "The 9-month extension is intended to facilitate the continued smooth functioning of SDR-related ...
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  • Daily FX Market Update

    Daily FX Market Update

    MARKET PULSE FOMC : Didn't consider conditions for a rate hike (1st in9 years) conducive FOMC : Fed's 2.0% inflation target was still far (headline CPI rose 0.1% m/m July) Funds added USD longs for an 8th week, the longest stretch since 2010. USD Spot Index, fell as much as 0.1 % and was flat ...
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  • Forex Technical Analysis: EUR/USD

    Forex Technical Analysis: EUR/USD

    Forex Technical Analysis: EUR/USD Euro EUR/USD The EUR/USD saw Bullish momentum Wednesday on broad USD weakness after a Dovish FOMC minutes and hit 1.1147 early Thursday. The bias is Bullish near term. As you can see on the H1 chart below, the single currency price is testing a trend line resistance located in the 1.1150 ...
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  • HEFFX Live Trading Update

    HEFFX Live Trading Update

    MARKET PULSE Shanghai Composite index fell 6% yesterday extended decline today OEC-The yen is 18 % undervalued based on purchasing power parity Today release of US Fed's FOMC minutes of July 28-29 meeting US -New homes under construction rose to their highest level since 2007 US- Unexpected decline in the number of new housing permits ...
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  • Forex Technical Outlook: EUR/USD

    Forex Technical Outlook: EUR/USD

    Forex Technical Outlook: EUR/USD Euro EUR/USD The EUR/USD is showing a Bullish wave count with a potential WXY (Purple). The invalidation level is the bottom of the triangle (Green). Wednesday's FOMC statement could have a major impact on the US Dollar (.DXY). A break above the resistance trend line (Orange) could confirm the completion of ...
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  • S&P/Experian Consumer Credit Default Indices Report

    S&P/Experian Consumer Credit Default Indices Report

    Data through July 2015, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed decreases in composite and bank card default rates while others remained virtually unchanged. The composite rate posted a 0.92% default rate in July, one basis ...
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  • Singapore Dollar Outlook

    Singapore Dollar Outlook

    Singapore is caught between a rock and a hard place: easing its exchange rate-based monetary policy would strengthen its export competitiveness after China's devaluation of its yuan but may drive out capital and raise borrowing costs in a slow economy. Shrinking factory output, an economic contraction and months of falling consumer prices have revived speculation ...
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  • Emerging Markets Currencies longest decline since 2000

    Emerging Markets Currencies longest decline since 2000

    The economic calendar is looking a little light of data today so we will again focus on the likes of China as the discussion around the knock on effect continues to rumble on. However with the likes of US CPI and retail sales due later in the week we could see a lot of the ...
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  • Forex Technical Outlook: EUR/USD

    Forex Technical Outlook: EUR/USD

    Forex Technical Outlook: EUR/USD Euro EUR/USD During the course of Monday's sessions, we saw that the single currency spent most of the day range bound by 1.1119 and the 4hr swap, Support barrier at 1.1072. Risk/Reward considerations argue against attempting to trade this temporary 4hr range, especially since the 1.1100 handle is lodged in between. ...
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  • RMB Yuan's Internationalization Presents Opportunities Private Sector And Financial Investors

    RMB Yuan’s Internationalization Presents Opportunities Private Sector And Financial Investors

    RMB Yuan's Internationalization Presents Opportunities Private Sector And Financial Investors Asia must be ready for the increased internationalization of Chinese currency Renminbi (RMB) Yuan, Zeti Akhtar Aziz, governor of Bank Negara Malaysia (BNM), Malaysia's central bank, said Monday. "The increasing role of the RMB in the global financial system from a trade currency to an ...
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  • Money Printing Fails Japan

    Money Printing Fails Japan

    TOKYO, Japan — Japan’s economy contracted at a 1.6 percent annual pace in the April-June quarter, as bad weather and slowing demand in China posed further setbacks for the “Abenomics” growth strategy. The gloomy preliminary growth data reported Monday was in line with expectations, and raises the likelihood the central bank may opt for fresh ...
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  • China Ready to Go Global

    China Ready to Go Global

    After decades relying on revenues from exports to invest at home and generate growth China wants to move toward a consumption based model. But to do so it needs to find an alternative source of financing. A solution for this problem would be to open up to foreign capital. Instead of obtaining revenues from exports ...
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  • FX Daily Update

    FX Daily Update

    MARKET PULSE Indian July exports fall 10.3% on-year to $23.1b The Indian trade deficit reached $12.8 billion in July Indian exports slipped for an 8th month, the longest decline since 2009 China increased its bullion reserve by 1.1% in July Billionaire Stan Druckenmiller bought shares of SPDR Gold Trust, worth $323.6 m Hedge-fund manager John ...
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  • Forex, A Technical Look At EUR/USD

    Forex, A Technical Look At EUR/USD

    Forex, A Technical Look At EUR/USD Friday's close produced a Key Candlestick patter, the Evening Star Reversal, suggesting that a corrective high is in. Evening Star patterns are a favored Candlestick pattern, particularly when they respect a zone of Support or Resistance. The fact it has stalled at a 100% projection (wave equality) does suggest ...
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  • Banks Pay Fines for FX Fraud Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS and UBS

    Banks Pay Fines for FX Fraud Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS and UBS

    Nine major banks accused of foreign-exchange rigging have agreed to pay more than 2 billion to investors in settlements, a law firm involved in the process said. Plaintiffs have "reached settlements totaling more than 2 billion with Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS and UBS," legal firm Hausfeld said ...
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  • USDCNY China's RMB Headed to 7 to 1 US Dollar

    USDCNY China’s RMB Headed to 7 to 1 US Dollar

    USDCNY China's RMB Headed to 7 to 1 US Dollar FOREX CNY= closed up 0.061 at 6.385. Volume was 108% above average (neutral) and Bollinger Bands were 751% wider than normal. Open High Low Close Volume___ 6.420 6.449 6.376 6.385 1,732 Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish Moving Averages: 10-period ...
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  • Forex Technical Analysis: GBP/USD

    Forex Technical Analysis: GBP/USD

    Forex Technical Analysis: GBP/USD Great British Pound (GBP) The bias in GBP/USD remains Neutral in here. On the Northside A break of 1.5689 extends Cable's rebound from 1.5329 towards 1.5929. If that happens the move from 1.4565 extends. On the Southside A break below 1.5423 turns bias back South for 1.5329, a clear break there ...
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  • Forex Technical Analysis For: GBP/USD

    Forex Technical Analysis For: GBP/USD

    Forex Technical Analysis For: GBP/USD Great British Pound (Cable) GPB/USD The last 2 (4) trading days stocks and the Buck have been volatile as traders respond to news of the Chinese currency devaluation by piling in on safe haven assets. The CHF, JPY and Gold have all found solid support. One pair that has caught ...
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  • PBOC, "There Is No Reason For The RMB Yuan To Depreciate Further"

    PBOC, “There Is No Reason For The RMB Yuan To Depreciate Further”

    PBOC, "There Is No Reason For The RMB Yuan To Depreciate Further" Chinese RMB Yuan extended its decline Wednesday, but is unlikely to depreciate significantly as the central bank and stable fundamentals will not allow the currency to go into free fall. The spot rate fell about 3% to its lowest level since October 2012 ...
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  • Iraq Enters Default

    Iraq Enters Default

    Despite possessing the fifth largest oil reserves in the world, Iraq is facing a worsening economic crisis. Huge increases in army expenditures to combat Daesh combined with decreasing international oil prices has forced the Iraqi government to delay paying its debts international debts, which are estimated to range in the billions of dollars. The ongoing ...
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  • China Takes on USA in Currency War

    China Takes on USA in Currency War

    The USA has been manipulating the USD since Greenspan's days, the low dollar policy was a substitute for protectionism, now China has joined in, dropping the currency to aid exports. The dollar rose against a range of Asia-Pacific currencies on Wednesday after China cut the value of the yuan against the greenback for a second ...
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  • China Markets and their Impact Overnight

    China Markets and their Impact Overnight

    China Markets and their Impact Overnight China yet again is the key issue dominating markets today as for the second day running the People's Bank of China taken the step to act for the second day running. Today the USDCNY soared by another 1.6% to 6.5890 and could have set another dangerous precedent, and has ...
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  • Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD

    Forex Technical Analysis For: EUR/USD Euro EUR/USD With EUR maintaining its corrective Bullish mode, it should move to the resistance at 1.1133 in here. Support lies at 1.1000, where a break points to 1.0950, and a break of here will point to 1.0900 then to 1.0850. Resistance is seen at 1.1100, a break there open ...
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  • China Not Waging Currency War, "Merely Fixing A Discrepancy"

    China Not Waging Currency War, “Merely Fixing A Discrepancy”

    China Not Waging Currency War, "Merely Fixing A Discrepancy" The PBOC Tuesday revised the RMB Yuan's central parity rate formation system to give the market a louder voice, and the market answered with a deep dive. However, the Yuan's 2% fall was a long overdue market reaction rather than a signal of more depreciation by ...
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  • GBPUSD Update

    GBPUSD Update

    The Conference Board Leading Economic Index® (LEI) for the U.K. decreased 0.2 percent in June to 112.4 (2010= 100), following a 0.4 percent decline in May, and a 0.3 percent increase in April. At the same time, The Conference Board Coincident Economic Index® (CEI) for the U.K., a measure of current economic activity, was unchanged ...
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  • Quick Facts on Reaction to China's Devaluation

    Quick Facts on Reaction to China’s Devaluation

    China is most definitely the dominating force in today’s markets as the overnight Asian session saw big moves across all asset classes. Firstly we have seen somewhat of a US dollar squeeze overnight, affecting all of the major currency pairs, and with more news about the Fed due out later this week then we could ...
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  • Another Meaningless Greek Deal

    Another Meaningless Greek Deal

    Greece on Tuesday reached a deal on a multi-billion bailout with its international creditors, officials said, with the government planning to submit it to parliament later in the day. "An agreement was reached," a government source told AFP, with Finance Minister Euclid Tsakalotos telling reporters: "We are very close... There are a couple of very ...
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  • EURUSD Update

    EURUSD Update

    Investor sentiment in Germany fell sharply in August due to nagging geopolitical uncertainty clouding the outlook for Europe's top economy, a leading survey found on Tuesday. The widely watched investor confidence index calculated by the ZEW economic institute sank 4.7 points to 25.0 points this month, the lowest level since November 2014, ZEW said in ...
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  • China Enters the Currency War

    China Enters the Currency War

    China's central bank on Tuesday devalued its yuan currency by nearly two percent against the US dollar, as authorities seek to push market reforms and bolster the world's second-largest economy. A cheaper yuan will make Chinese exports cheaper potentially boosting overseas sales, among the main drivers of growth during the nation's remarkable rise over the ...
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  • Russian Economy Imploding

    Russian Economy Imploding

    Russia's recession worsened in the second quarter as gross domestic product shrank by 4.6 percent compared with a year earlier, battered by lower oil prices and Western sanctions over Ukraine, official statistics showed yesterday. The preliminary estimate from the official Rosstat agency marks a steep drop from the 2.2 percent contraction in the first quarter ...
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  • Forex Technical Analysis For: GBP/USD

    Forex Technical Analysis For: GBP/USD

    Forex Technical Analysis For: GBP/USDGreat British Pound (GBP) GBP looks to recover higher following its rejection candle last Friday. This development leaves the immediate direction North with its lower level charts (see 4 hr chart below) turning higher. On the Southside Support is at 1.5450 where a break points to 1.5400, a break there to ...
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  • China Set To Broaden RMB Yuan Trading Band Soon

    China Set To Broaden RMB Yuan Trading Band Soon

    China Set To Broaden RMB Yuan Trading Band Soon China may broaden the daily trading band of Renminbi (RMB), or the Yuan, Vs the USD soon, another step in its exchange rate reform. The range is likely to be expanded to 3% from the existing 2% in Q-3, Zhu Haibin, chief economist of JP Morgan ...
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  • China Economic Data

    China Economic Data

    Producer prices in China fell to a six-year low in July, while consumer inflation remained subdued, signalling the economy still faces deflationary pressures and Beijing has room to unveil more economic support measures According to Reuters . The producer price index (PPI) fell 5.4 percent from a year earlier, the National Statistics Bureau said on ...
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  • Euclid Tsakalotos and Giorgos Stathakis Vs ECB

    Euclid Tsakalotos and Giorgos Stathakis Vs ECB

    Euclid Tsakalotos and Giorgos Stathakis, were back at the negotiating table with the ECB, the International Monetary Fund and the European Stability Mechanism at 2:00 pm (1100 GMT) Sunday and were still talking eight hours later. They are finalising the draft of a crucial new bailout of up to 86 billion euros (94 billion) in ...
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  • Bad Debts Rise in China Banks

    Bad Debts Rise in China Banks

    The bad loan ratio at Chinese lenders increased to 1.5 percent at the end of June, the banking regulator said. The ratio was 0.11 percentage point higher than it was at the end of March. The value of outstanding non-performing loans (NPLs) climbed by 109.4 billion yuan to 1.09 trillion yuan, the China Banking Regulatory ...
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  • Forex Technical Analysis For:EUR, GBP, JPY & CHF

    Forex Technical Analysis For:EUR, GBP, JPY & CHF

    EUR/USD The EUR/USD was indecisive last week. Price attempted to push lower but closed higher at 1.0959 Friday. The bias is Neutral in near term. Immediate support seen at 1.0925. A clear break below that mark could trigger more Bearish pressure testing to 1.0880. Immediate resistance is seen at 1.1000. A clear break above that ...
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  • China Pulling Out of USD Assets?

    China Pulling Out of USD Assets?

    China's foreign exchange reserves, the world's largest, fell to 3.65 trillion at the end of July, the official news agency Xinhua reported Friday, adding that it was the third consecutive monthly decrease. July's fall amounted to 42.5 billion, it said, citing an announcement by the People's Bank of China (PBoC), the central bank. Friday's announcement ...
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  • China's Reforms Are Enough To Support RMB's Inclusion Into IMF's SDR Basket

    China’s Reforms Are Enough To Support RMB’s Inclusion Into IMF’s SDR Basket

    China's Reforms Are Enough To Support RMB's Inclusion Into IMF's SDR Basket Experts are cautiously optimistic that China's plans for further financial reforms would be sufficient to help its currency Renminbi (RMB Yuan) meet the International Monetary Fund's (IMF) criteria for joining its benchmark currency basket later this year. "I don't think China is going ...
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  • USD Rates Update

    USD Rates Update

    RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for CD rates of all durations this week remained unchanged as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008. "CD rates held steady ...
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  • The Technical Look A Friday's US NFPs Effect On EUR, GBP & JPY

    The Technical Look A Friday’s US NFPs Effect On EUR, GBP & JPY

    The Technical Look A Friday's US NFPs Effect On EUR, GBP & JPY EUR/USD The EUR/USD's movement will be impacted by Friday's US NFPs (Non-Farm Payrolls) employment numbers. The EUR/USD had a range day Thursday which created the support (Green) and resistance (Red) trend lines. GBP/USD The GBP/USD's movement will be impacted by Friday's US ...
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  • What is Non-Farm Employment Report?

    What is Non-Farm Employment Report?

     What is Non-Farm Employment Report? The biggest and boldest data is upon us once again and it is that time of the month that the headlines will print the most important piece of the economic data- the U.S. Non-Farm pay roll number.    Check out the chart below to see what happened last month:   ...
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  • USDCAD Canadian Economic Outlook

    USDCAD Canadian Economic Outlook

    Canada's trade deficit narrowed in June to Can476 million (US 361 million) as exports rose 6.3 percent thanks in part to a weakening Canadian dollar, Statistics Canada said Wednesday. The improvement, from a Can3.4 billion deficit in May, was much better than anticipated. Analysts had expected the deficit to come down to only Can2.9 billion. ...
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  • HEFFX Daily Trading Quick Facts

    HEFFX Daily Trading Quick Facts

    US Private jobs disappoint, Friday Labor Department, EZ Services PMI falls QUOTE: Managers expect thingsto stay the same.Leaders expect everything to change. MARKET PULSE Forecast US 225,000 jobs were added in Jul. - Report on Friday ADP: US Private Companies added 185,000 jobs vs. a forecast of 215,000 US Service providers expanded in July at ...
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  • Delay Will Not Derail IMF's RMB Yuan Internationalization

    Delay Will Not Derail IMF’s RMB Yuan Internationalization

    Delay Will Not Derail IMF's RMB Yuan Internationalization China's currency RMB Yuan is very likely to be included in the benchmark currency basket of the International Monetary Fund (IMF) in its upcoming 5-year review, though the time frame for the process may be extended, a senior economist said on Wednesday. "We still think it is ...
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  • Philippine Peso Outlook

    Philippine Peso Outlook

    Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. will push for another major reform that could drastically change the way monetary policies are crafted in the Philippines. Gears will start turning next year for the establishment of a so-called interest rate corridor, a mechanism that a senior official said would improve financial markets ...
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  • Rising USD Hits US Economy

    Rising USD Hits US Economy

    The US trade deficit increased in June as solid consumer spending pulled in more imports, while the strong dollar restrained exports. The Commerce Department said the trade gap jumped by 7 percent to US$43.8 billion in June, up from US$40.9 billion in May. Imports increased by 1.2 percent to US$232.4 billion, while exports edged lower ...
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  • Greek Banks are Bust

    Greek Banks are Bust

    Greek banks are in dire need of recapitalization after a flight of euros from deposits for most of this year and mounting loan impairments. But that will hurt existing shareholders, when it comes, by diluting the value of their holdings. Banks comprise about 20 percent of the main Athens index .ATG and their continued plunge ...
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  • HEFFX FX Trading Outlook

    HEFFX FX Trading Outlook

    US Fed hints at a rate hike in September, all eyes on Friday Jobs data With all eyes on both the BoE and the Fed over the next few days we must keep an eye on these currency majors as both Cable and EURUSD could be in for a bit of a move. Its Cable ...
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  • Wednesday's Technical Analysis: EUR, GBP, JPY Vs USD

    Wednesday’s Technical Analysis: EUR, GBP, JPY Vs USD

    Wednesday's Technical Analysis: EUR, GBP, JPY Vs USD$.DXY EUR/USD Re-challenges Key support at 1.08. The EUR/USD is again challenging a Key support level at 1.08 (Green line). The EUR/USD wave count changed upon the Bearish breakout below the support trend line (dotted Green). The wave count will remain labeled as a wave X (Brown) as ...
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  • Dubai Leads Regional Islamic Finance Sector

    Dubai Leads Regional Islamic Finance Sector

    Dubai Leads Regional Islamic Finance Sector The GCC bond and sukuk markets activity remained relatively sound in the second quarter despite political uncertainty in some parts of the region the debt crisis in Greece and volatility in oil prices. PricewaterhouseCoopers or PwC said the UAE emerged as a key player in terms of corporate bond ...
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  • Europe Gets Overdue Downgrade

    Europe Gets Overdue Downgrade

    Europe Gets Overdue Downgrade Standard & Poor's has changed the outlook for the European Union from stable to negative after the bloc's support for Greece and following Britain's decision to vote on leaving the EU, S&P reported. The decision means the US ratings agency could lower its grade of the European Union -- now at ...
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  • China Economic Data: Manufacturing

    China Economic Data: Manufacturing

    A key gauge of Chinese manufacturing activity plunged to a two-year low in July, an independent survey showed Monday, the latest data suggesting the world's second-largest economy faces downward pressure in the third quarter. The final reading of Caixin's Purchasing Managers' Index (PMI) came in at 47.8 for the month, the Chinese media group said ...
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  • Greece in Meltdown Mode

    Greece in Meltdown Mode

    The Greek stock exchange took a beating today as trading resumed after a five-week shutdown forced by capital controls, with the main index losing around a fifth of its value. Bank shares were particularly hit. The ATHEX plunged by nearly 23 percent at the opening before clawing back to losses of 17 percent in mid ...
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  • Monday's Technical Analysis: EUR/USD

    Monday’s Technical Analysis: EUR/USD

    Monday's Technical Analysis: EUR/USD EUR/USD (Euro) The EUR/USD was volatile but indecisive last week formed a Doji on the weekly. The bias is Neutral near term probably with a Bearish bias testing support at 1.0900. 1st resistance is seen at 1.1030, but Key resistance is at 1.1130. Major technical outlook is Neutral. Potential daily range ...
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  • Kuwait and Oil Prices

    Kuwait and Oil Prices

    For the first time in the history of Kuwait, the country faced a huge deficit of KD 2.7 billion in the last fiscal year which ended on March 31. Kuwait will face bigger shortage in this fiscal year if the current decline in oil prices does not cease. This year's budget was formed based on ...
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  • Japan Economic Update

    Japan Economic Update

    Japanese inflation was tepid in June while household spending suffered a surprise drop, official data showed on Friday, fanning speculation the central bank would unleash a fresh round of stimulus. Core inflation, excluding volatile fresh food prices, edged up 0.1% from a year ago, the government said, while excluding food and energy, prices rose 0.6% ...
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  • China's Planned Slowdown a Success

    China’s Planned Slowdown a Success

    China's economy is holding up despite the recent crash in the stock market, which has fallen 27% from its peak on June 8. Second quarter real GDP growth was released on July 15 at 7.0%, above consensus of 6.8% and in line with the government target of around 7.0% for 2015, according to a QNB ...
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  • Emerging Market Currencies Hammered, Government Intervention Ahead

    Emerging Market Currencies Hammered, Government Intervention Ahead

    Emerging Market Currencies Hammered, Government Intervention Ahead $MS, $GS The biggest decline in emerging-market currencies since the global financial crisis is quickly turning from a welcome event for countries seeking to make their economies more competitive into something destructive. The selloff has become so swift and so deep that officials are abandoning hands-off policies on ...
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  • EUR/USD Trading Update

    EUR/USD Trading Update

    Shayne Hefferrnan of HEFFX EUR/USD Trading Update Inflation in the 19-nation eurozone was unchanged in July while the jobless rate for June was also flat suggesting the economy maintained only modest growth official data showed. Analysts said the figures were disappointing with no sign as yet that the European Central Bank's unprecedented economic stimulus program ...
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  • Philippine Economic Outlook

    Philippine Economic Outlook

    The Philippine economy likely grew at a faster rate in April to June this year, compared to first-quarter level, as low prices encouraged consumers to spend more and given the rise in government outlays. First Metro Investment Corp. (FMIC), the country’s leading investment lender, said the exports sector remained the biggest drag on the economy ...
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  • Forex Technical Analysis And Forecast: EUR/USD Pair

    Forex Technical Analysis And Forecast: EUR/USD Pair

    Forex Technical Analysis And Forecast: EUR/USD Pair Price: 1.0935 Bias: See 1.0944-50 cap for losses to 1.0867-79 and later South to 1.0825-50 area The underlying MT direction is Bearish, and the daily bias is Bearish. So, the main risk is down. Ensure that Key resistances levels hold. Key support marks suggest continuation of the Bearish ...
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  • US Real Estate Report Mortgage Rates Slide

    US Real Estate Report Mortgage Rates Slide

    Mortgage rates dipped again this week, with the benchmark 30-year fixed mortgage rate dropping to 4.09 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.22 discount and origination points. The larger jumbo 30-year fixed rate dropped back below the conforming 30-year fixed mortgage to a three-month low of ...
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  • Russian Ruble Continues to Fall

    Russian Ruble Continues to Fall

    Russian Ruble Continues to Fall The Russian ruble is falling under the pressure of cheaper oil, reviving concerns over the country's economic outlook, particularly the perniciously high inflation rate. The ruble was down by 0.9 percent in Moscow trading today, at 59.2 rubles against the US dollar. The decline comes a day after the Russian ...
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  • Forex Technical Analysis: EUR, GDP & JPY

    Forex Technical Analysis: EUR, GDP & JPY

    Forex Technical Analysis: EUR, GDP & JPY EUR/USD The EUR/USD was unable to break above resistance (Red) and is correcting lower as part of a wave X (Lavender) unless price manages to break below the main support mark (Green). The EUR/USD broke below the support trend line (Green) as part of an impulse, which most ...
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  • Forex Technical Analysis: EUR/USD & GBP/USD Rally At Fibo Support Marks

    Forex Technical Analysis: EUR/USD & GBP/USD Rally At Fibo Support Marks

    Forex Technical Analysis: EUR/USD & GBP/USD Rally At Fibo Support Marks EUR/USD The EUR/USD bounced at the support trend line (Green) which looks like a correction (Wave B) of the Bullish momentum Monday (Wave A). The EUR/USD bounced at the 61.8% Fibo support mark and is now approaching a 4 hr resistance trend line (Red). ...
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  • USA Confidence Declines

    USA Confidence Declines

    The Conference Board Consumer Confidence Index®, which had improved in June, declined in July. The Index now stands at 90.9 (1985=100), down from 99.8 in June. The Present Situation Index decreased moderately from 110.3 last month to 107.4 in July, while the Expectations Index declined sharply to 79.9 from 92.8 in June. The monthly Consumer ...
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  • HEFFX Live Trading Update

    HEFFX Live Trading Update

    MARKET PULSE Shanghai Composite Index fell 1 % , intra-day low of 5.1 %. It fell 8.5 % on Mon. EVENTS: U.K. GDP, Sweden retail sales and Italy business confidence; Yanis Varoufakis divulged details on how Greece could sneak out of the euro French President Hollande -" run again in 2017 elections if unemployment falls" ...
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  • US Dollar (.DXY) Breaks Technical Support, Heads South

    US Dollar (.DXY) Breaks Technical Support, Heads South

    US Dollar (.DXY) Breaks Technical Support, Heads South The EUR/USD broke the most recent top again and has closed with yet another higher high. The break of the next resistance line (Red) could indicate the potential continuation. The EUR/USD completed a 5 wave pattern (Green) Monday which was most likely part of a bigger Bullish ...
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  • GBP/USD British Economy Struggles

    GBP/USD British Economy Struggles

    The Bank of England's chief economist has made a name for himself as a free-thinking contrarian in recent years, even publicly siding with Occupy activists and likening the need for simplicity in banking regulation to a dog catching a Frisbee. "He's an original thinker," says Robert Jenkins, a former colleague of Haldane's on the bank's ...
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  • Indonesia: Economic Update

    Indonesia: Economic Update

    Container ships dot the horizon off the coast of Jakarta, as cranes and labourers work on an ambitious, economy-boosting project to expand the port network in the world's largest archipelago nation. New Priok will be Indonesia's biggest port once completed, and is one of 24 ports planned to overhaul maritime connections in Southeast Asia's top ...
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  • USD/CNY Trading Outlook

    USD/CNY Trading Outlook

    Economists predict China will soon expand the daily trading band of renminbi (RMB), or the yuan, to 3 percent after a recent promise for a more flexible exchange rate. The State Council, or China's Cabinet, announced on July 24 that it will broaden the RMB daily trading range but did not disclose more details or ...
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  • HEFFX Market News

    HEFFX Market News

    MARKET PULSE Today: German IFO business climate index Greece's government is set to begin talks with creditors on new bailout agreement Tsipras's paradox is six months of pain and enduring popularity ECB rejects proposals by Greek authorities to reopen country's financial markets ECB's Draghi sets sights on reviving economy with Greece on back seat Long ...
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  • Aussie (AUD) Continues To Fall Vs USD

    Aussie (AUD) Continues To Fall Vs USD

    Aussie (AUD) Continues To Fall Vs USD The Australian Dollar continued its week-long slide Vs the USD Monday. Falling commodity prices saw the currency at 00.7270, down from 00.7302 Friday. Last Friday it fell as low as 00.7206 on the back of weak Chinese manufacturing data, its weakest level since May 2009. With the strong ...
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  • Fibonacci for Traders

    Fibonacci for Traders

    FIBONACCI STUDIES Overview Leonardo Fibonacci was a mathematician who was born in Italy around the year 1170. It is believed that Mr. Fibonacci discovered the relationship of what are now referred to as Fibonacci numbers while studying the Great Pyramid of Gizeh in Egypt. Fibonacci numbers are a sequence of numbers in which each successive ...
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  • Global Economy Set for Weak Second Half

    Global Economy Set for Weak Second Half

    Global Economy Set for Weak Second Half The World economy started H2 2015 in an ominous slowdown, as business activity in the eurozone was weaker than expected and China's vast factory sector appeared to be contracting at the fastest pace in 15 months in July. The data comes just months after the European Central Bank ...
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