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Will Friday Data Disappoint FX Traders?
Friday will be a busy day for forex traders with PMIs and retail sales reports scheduled for release from all corners of the world. Currencies are trading strongly ahead of these reports with investors looking forward to good data. The best performing currencies were the Australian and New Zealand dollars. Although Australia reported job losses instead of job gains in the month of April like economists anticipated, traders were encouraged by a lower unemployment rate and full time job growth. Retail sales and PMI numbers are due from Australia tonight and a further pickup in economic activity is likely. Treasury ... (full story)