USD/CAD – Flat As Canadian Retail Sales Slip

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The Canadian dollar continues to have an uneventful week as USD/CAD trades in the mid-1.10 range in Wednesday’s North American session. Canadian retail sales numbers dropped in March, but did matched expectations. South of the border, US New Home Sales was dismal, sliding to an eight-month low.

Canadian Core Retail Sales,

US New Home Sales Plunged in March to an Eight-Month Low

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Sales of new single-family homes in the US fell 14.5% to an annualized 384,000 units in March 2014, which was the lowest level of sales since July 2013. On a positive note, sales were revised upward in January and February (respectively to 470,000 and 449,000 from previously reported 455,000 and

Canadian Retail Sales Rise again in February

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Nominal retail sales in February 2013 rose an expected 0.5% in the month. This built further onto a 0.9% jump in January although represented a downward revision from a previously estimated increase of 1.3%. These gains have helped offset the weather-related 1.4% plummet in activity in December 2013, with the

GBP/USD – Pound Dips After BOE Minutes

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GBP/USD has reversed directions on Wednesday, dipping below the 1.68 line. In UK releases, the BOE minutes from its last policy meeting pointed to disagreements over the economy. Public Sector Net Borrowing pointed to a smaller deficit, while Industrial Order Expectations dropped sharply. In the US, New Home Sales slipped

AUD/USD – Aussie Tumbles On Disappointing CPI

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AUD/USD has registered sharp drops on Wednesday, as the pair trades in the mid-0.92 range early in the North American session. The Aussie has lost about 100 points following a weak Australian CPI release, which fell to a three-month low. Over in the US, the major event of the day

Dow Jones – Technical Outlook

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On Tuesday, the Dow Jones Industrial Average (DJIA30) closed off session highs but still managed to rise by 65 points, extending its gains from the previous week. In doing so the index nearly tested its immediate strong resistance near 16,600 area. At the time of writing this report, the DJIA30

S&P Testing Key Resistance Level; Break above Could See Index Hit Fresh All-Time Highs

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The S&P 500 looks set to open lower today. Given that this morning’s earnings results have been mostly better than expected and the fact that there was some mixed-bag data from Asia and Europe overnight, the weakness can at least be partly blamed on profit-taking. Indeed with shares on Wall

USD/CNH Reaches New 14-Month Highs as Rally Continues Unabated

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In today’s Asian session, traders got their first glimpse into how the world’s second-largest economy has been performing in April. To wit, China’s HSBC Flash Manufacturing PMI figure came in at 48.3, painting the same subdued picture that it has for the past few months. China bulls may take solace

USD/JPY – Slight Losses Ahead of US Housing Data

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USD/JPY has posted modest losses in Wednesday trade, as the pair remains in the mid-102 range early in the North American session In Wednesday releases, the highlight of the day is New Home Sales. The markets are expecting a stronger reading in March. The lone Japanese event, Corporate Services

Gold Prices Under Pressure After Solid Housing, Manufacturing Numbers

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Gold prices are flat in Wednesday trading, with a spot price of $1287.51 late in the European session. Gold dipped to a two-month low on Tuesday as Existing Homes Sales beat the estimate and the Richmond Manufacturing Index rebounded sharply, hitting a three-month high. In Wednesday releases, the highlight of

USDJPY Weakness: Could It Hurt Other Markets?

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This morning USDJPY has come under pressure, and has fallen below its 50-day moving average at 102.38. This is another set-back in USDJPY’s recovery, and suggests that the recent rally was half-hearted at best since the bulls could not push this pair above a key resistance level at 102.48

EUR/USD – Gains As Eurozone, German PMIs Point Up

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EUR/USD has posted gains in Wednesday trading, as the pair has climbed to the mid-1.38 range in the European session. Eurozone and German PMIs beat their estimates, although the French releases fell short of expectations. In economic news, Eurozone and German PMIs beat the forecast, but French PMIs did not

No For Sale Sign On EUR Or GBP Just Yet

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Despite major currency volatility falling to its lowest level in seven-years, there has been some movement in the forex market now that the Easter holidays are over. Fundamental data releases stretching from Australia to London in the overnight session have renewed some intraday interest in some of the major currency

USDJPY – Sells Off, Target Additional Weakness

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USDJPY With USDJPY breaking out of consolidation to the downside, there is risk of further weakness. Support lies at the 102.00 level with a breach of here targeting the 101.32 level where a violation will aim at the 100.75 level and then the 100.00 level followed by the 99.00

Euro PMIs Stronger Than Expected In April

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Manufacturing PMI increased to 54.2 in April, from 53.7 in March (consensus 53.8, Danske Bank Markets 53.4). The details for manufacturing PMI were mixed: new orders declined a bit from 55.5 to 54.7 but stocks of finished goods were lower and the order-inventory balance improved and continued its upward trend