Thursday’s round of economic data out of Europe was mixed on the whole, and the euro did a good job holding up again. The most interesting data we saw was the German PMI with the services component exceeding forecasts while the manufacturing component disappointed putting in its steepest decline in six and a half years. The Australian dollar remained way down after taking a couple of hard hits early in the day. China has a ban on Aussie coal imports and calls from Westpac’s chief economist for two rate hikes in 2019 were responsible for the relative weakness in the

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