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Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY
FXStreet (San Francisco) - Currency market closed Tuesday almost at same levels it opened. The US Dollar traded higher early in the day amid talks that Federal Reserve is planning to cut QE pace with another $10B in the next week meeting, but the movement wasn't strong enough and the USD was overall down in the day.

Same story in stocks as Wall Street opened positive to lost ground in the first trading hours. However, major indexes managed to recover and it closed mixed on the day. The gold loses all of the last 3-day gains while the oil jumped above 95.00 for first time since January 3.

Nevertheless, the real action is expected to take place in market on Wednesday as the Yen and the CAD are focused on Wednesday's central banks decision and the GBP on BoE minutes.

The EUR/USD traded posted gains for third day as it closed at 1.3560. The pair is "maintaining the neutral short term stance according to the hourly chart. The 4 hours one however, maintains a negative technical bias, with 20 SMA capping the upside in the 1.3560 area," commented the FXstreet.com chief analyst Valeria Bednarik.

The GBP/USD jumped from 1.6400 to 1.6485 just before the US opening bell. Then the cable was trading water around 1.6475 where it closed the session. The USD/JPY was rejected by the 104.75 area in Europe but it found support at 104.00 where is started a shy recovery into 104.30.

Main headlines in the American session:

Canada: Manufacturing Shipments (Nov) rose 1.0%

IMF hikes global growth forecast

IMF sees 10-12% chance of deflation in the eurozone – Blanchard

Hilzenrath says unemployment rate could tick up in January data

Wall Street mixed amid earnings reports
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