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Daily Forex Commentary 29/7/2010

The Aussie's three-week ascent towards US90.50 came to an abrupt halt yesterday immediately after the release of the much-anticipated June quarter inflation data.

Conoco Q2 surges as refining buoys Big Oil

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ConocoPhillips , the third-largest U.S. oil company, reported a 150 percent increase in underlying quarterly profit, in a dramatic bounceback of its volatile refining business.
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Senate postpones BP-Lockerbie hearing

Senators postponed a hearing on whether British oil giant BP Plc influenced the release of the Lockerbie bomber, saying on Tuesday key witnesses had stonewalled the investigation by refusing to appear.
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Euro hovers near 2-month high as dollar weighed

The euro hovered close to a two-month peak against the dollar on Tuesday, retaining support after last week's European bank stress tests revealed no horrors while increased demand for riskier assets weighed on the dollar.
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BP set to replace CEO as spill cleanup resumes

BP Plc is expected to install an American known for diplomacy as chief executive, replacing Tony Hayward who has come under fire for his gaffe-prone handling of the worst oil spill in U.S. history.
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Genzyme weighs Sanofi approach: source

Biotechnology company Genzyme Corp is weighing an informal takeover approach from France's Sanofi-Aventis but is not looking to sell the company, a source familiar with the situation said on Monday.
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Daily Forex Commentary 27/7/2010

The Aussie dollar held on to support around 0.8940 during the Asian session despite a lower than expected second quarter Producer Price Index or PPI as its referred to.
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Forex trade bounces back in major financial centers

Daily foreign exchange trading turnover in London, Tokyo and New York soared in the latest year, bouncing back sharply from a crisis-induced decline, data released on Monday showed. Average daily volume in Britain jumped to $1.747 trillion in the year to April 2010, up 31 percent, the Bank of England said. It rose 15 percent compared with volume in October 2009.
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Educated people cope better with dementia

Educated people are better able to cope with the physical effects of dementia, and even one extra year of education can significantly cut the risk of developing the brain-wasting disease, scientists said on Monday.
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Futures flat ahead of housing data

Stock index futures were little changed on Monday ahead of data on new home sales, following the best three-week period on the S&P 500 Index in almost a year.
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Data and earnings eclipse stress tests

Robust U.S. company earnings and surprisingly vigorous euro zone economic data generally trumped investor skepticism about European bank stress tests on Monday to lift global stocks and bolster the euro against the dollar
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Data, earnings eclipse stress tests

Robust U.S. company earnings and surprisingly vigorous euro zone economic data generally trumped investor skepticism about European bank stress tests on Monday to lift global stocks and bolster the euro against the dollar
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Euro rises, Asian shares up after stress tests

The euro edged up and Asian shares rose on Monday as solid U.S. corporate earnings and surprisingly strong euro zone data offset growing skepticism that stress tests on European banks were not strict enough.
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Daily Forex Commentary 26/7/2010

Despite the uncertainty facing the European banking system the AUD/USD remained range bound on Friday bouncing between 0.8900 and 0.8970 for the majority of the Asian and offshore trading sessions.
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Cases of womb cancer rises

The Charity Cancer Research (CCR) in Britain has reported that more women are developing womb cancer nowadays compared to 35 years ago.
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Europe's media react to bank stress test results

Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), confirming fears the continent's long-awaited stress test was too soft.
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Rolls-Royce inks $1.7 billion in airshow orders

British aircraft engine maker Rolls-Royce said it secured $1.7 billion in orders at the Farnborough Airshow, including deals for its Trent 700 engine, the leading engine for the Airbus A330. Rolls-Royce said on Friday it won orders totaling more than $1 billion for Trent 700s to power 17 Airbus A330s from Russia's Aeroflot and Garuda Indonesia Airlines.

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