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Russian Government Resigns in the wake of proposals to amend the constitution
Author: povpam334385
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Euro Rallied to 6-Month High as Strong Data Raised Hopes for a More Upbeat ECB
The euro rallied, as more encouraging dataflow raised expectations that ECB would adopt a less dovish stance in its upcoming meeting in June. Currently trading around a new 6-month high of 1.11, the single currency jumped almost +1% against US dollar. Extending the 5th consecutive day of strength, EURGBP has rallied +2.36%. Another highlight of the day was US dollar’s weakness. Currently trading around 97.96, the DXY index has sank to the lowest level since November 2016 after 4 days’ of selloff.
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Euro Rallied to 6-Month High as Strong Data Raised Hopes for a More Upbeat ECB -
Energy Prices Weighed Down by Strong USD, Shrugging off Inventory Slump
Equity markets were mixed with European shares gaining and Wall Street weakening on hopes of Fed funds rates hike. DJIA and S&P 500 indices slipped -0.47% and -0.5% respectively. USD strengthened against major currencies with the broad index, DXY, soaring to a 2-month high of 96.44 before settling at 96.17, up +0.5%. British pound remains under pressure, plunging to as low as 1.2715 against USD. Currently trading around 0.8815, EURGBP has been rising for a third consecutive day, reigniting talks of euro/pound parity.
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Energy Prices Weighed Down by Strong USD, Shrugging off Inventory Slump