Australia on the verge of a sharp economic recession |
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Good morning from Hamburg and welcome to the Varengold Daily FX Report. Helped by robust shipments to Asia, Japan’s exports increased more than expected in July from a year before. There are concerns that Japan’s economy could be hurt by the lagging US economy and the expected decrease in the economy of their newest top customer, China, after the economic boost from the Olympics wears off. Market review The USD is down as some margin traders are attempting to trigger stops in the USD/JPY below
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