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A fresh drop in oil could wipe out the equity gains

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Outlook: Canada and Australia both beat gloomy forecasts for Q4 GDP. Granted, Canada got only 1.2% y/y vs. 2.5% the year before, but a giant expected fiscal boost in the budget in late March will help. Australia, suffering from losses in the mining sector, managed a whopping 3% y/y. In the US, the Atlanta Fed GDPNow forecast for Q1 was 2.1% last week and 1.9% yesterday, but with five more weeks to go. Focus on negative data really was overdone, as we suspected. And equities perked up on a rise

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