trade, still up 0.36%. The pair was likely to find support at 1.0661 and resistance at 1.0853. Risk sentiment improved as official data showed that U.S. gross domestic product expanded by 4.1% in the third quarter, above initial estimates for 3.6% growth. But the greenback remained supported after the Fed announced Wednesday that it would reduce its USD85 billion-a-month bond buying program by USD10 billion in January. The U.S.
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(NYSE:GCAP), a global provider of online trading services; today released its Q1 2014 Market Outlook report. FOREX.com analysts predict that USDJPY could embark on another leg higher as the Fed toys with the idea of pulling back its QE program, while the Bank of Japan sticks to the principles of Abenomics. The EUR is the Teflon currency of the G10; it is managing to defy gravity even though the growth outlook remains weak. “2014 is set to be the year when the recovery will cement itself. With an improved economic backdrop we expect central banks to take the first steps towards normalizing monetary policy.” said Kathleen Brooks, research director FOREX.com.
FOREX.com Q1 2014 Outlook: On the road to recovery? Market conditions poised to improve in the New Year, led by strengthening US economy.
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