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TECHNICAL OUTLOOK ON EUR/USD

EURO AREA
  • The European Central Bank held its benchmark refinancing rate at 0 percent for the tenth consecutive meeting and left the pace of its bond-purchases unchanged on April 27th 2017.
  • Consumer prices in the Euro Area are expected to increase by 1.9 percent year-on-year in April 2017, following a 1.5 percent rise in the 2017.
  • The unemployment rate in the Euro Area came in at 9.5 percent in March 2017, unchanged from February 2017.
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TECHNICAL OUTLOOK ON EUR/JPY

EURO AREA
  • The European Central Bank held its benchmark refinancing rate at 0 percent for the tenth consecutive meeting and left the pace of its bond-purchases unchanged on April 27th 2017.
  • Consumer prices in the Euro Area are expected to increase by 1.9 percent year-on-year in April 2017, following a 1.5 percent rise in the 2017.
  • The unemployment rate in the Euro Area came in at 9.5 percent in March 2017, unchanged from February 2017.
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TECHNICAL OUTLOOK ON EUR/CAD

EURO AREA
  • The European Central Bank held its benchmark refinancing rate at 0 percent for the tenth consecutive meeting and left the pace of its bond-purchases unchanged on April 27th 2017.
  • Consumer prices in the Euro Area are expected to increase by 1.9 percent year-on-year in April 2017, following a 1.5 percent rise in the 2017.
  • The unemployment rate in the Euro Area came in at 9.5 percent in March 2017, unchanged from February 2017.
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USD/CAD POSSIBILTY OF RETRACEMENT

UNITED STATES:
  • The seasonally adjusted Markit final US Manufacturing PMI fell to 52.8 in April 2017 from 53.3 in March 2017
  • The Institute for Supply Management’s Manufacturing PMI in the US fell to 54.8 in April 2017 from 57.2 in March 2017
  • The ISM Non-Manufacturing PMI index for the United States went up to 57.5 in April of 2017 from 55.2 in March 2017.
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CAD/JPY POSSIBILITY OF RETRACEMENT

CANADA
  • The Bank of Canada held its overnight rate steady at 0.5 percent on April 12th, 2017.
  • Consumer prices in Canada rose 1.6 percent year-on-year in March of 2017, easing from a 2 percent increase in February and below market expectations of 1.8 percent.
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TECHNICAL OUTLOOK ON GBP/USD

UNITED KINGDOM
  • Consumer prices in the United Kingdom rose by 2.3 percent in the year to March 2017, the same pace as in February 2017.
  • UK unemployment rate held at an almost 12-year low of 4.7 percent in the three months to February 2017.
  • The British economy advanced 0.3 percent on quarter in the three months to March 2017, easing from a 0.7 percent growth in the previous period.
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TECHNICAL OUTLOOK ON GBP/JPY

UNITED KINGDOM
  • Consumer prices in the United Kingdom rose by 2.3 percent in the year to March 2017, the same pace as in February 2017.
  • UK unemployment rate held at an almost 12-year low of 4.7 percent in the three months to February 2017.
  • The British economy advanced 0.3 percent on quarter in the three months to March 2017, easing from a 0.7 percent growth in the previous period.
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TECHNICAL OUTLOOK ON GBP/CAD

UNITED KINGDOM
  • Consumer prices in the United Kingdom rose by 2.3 percent in the year to March 2017, the same pace as in February 2017.
  • UK unemployment rate held at an almost 12-year low of 4.7 percent in the three months to February 2017.
  • The British economy advanced 0.3 percent on quarter in the three months to March 2017, easing from a 0.7 percent growth in the previous period.
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TECHNICAL OUTLOOK ON EUR/GBP

EURO AREA
  • The European Central Bank held its benchmark refinancing rate at 0 percent for the tenth consecutive meeting and left the pace of its bond-purchases unchanged on April 27th 2017.
  • Consumer prices in the Euro Area are expected to increase by 1.9 percent year-on-year in April 2017, following a 1.5 percent rise in the 2017.
  • The unemployment rate in the Euro Area came in at 9.5 percent in March 2017, unchanged from February 2017.
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TECHNICAL OUTLOOK ON AUD/CAD

AUSTRALIA
  • Australia's trade surplus narrowed 15 percent to AUD 3.11 billion in March of 2017 from an upwardly revised AUD 3.66 billion in February.
  • The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on May 2nd 2017
  • Consumer prices in Australia rose 2.1 percent through the year to the March quarter of 2017 from 1.5 percent in the fourth quarter 2016.
CANADA[list][/list]…
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TECHNICAL OUTLOOK ON AUD/JPY

AUSTRALIA
  • Australia's trade surplus narrowed 15 percent to AUD 3.11 billion in March of 2017 from an upwardly revised AUD 3.66 billion in February.
  • The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on May 2nd 2017
  • Consumer prices in Australia rose 2.1 percent through the year to the March quarter of 2017 from 1.5 percent in the fourth quarter 2016.
JAPAN
[list][/list]…
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AUD/USD DOWNTREND MAY CONTINUE.

AUSTRALIA
  • Australia's trade surplus narrowed 15 percent to AUD 3.11 billion in March of 2017 from an upwardly revised AUD 3.66 billion in February.
  • The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on May 2nd 2017
  • Consumer prices in Australia rose 2.1 percent through the year to the March quarter of 2017 from 1.5 percent in the fourth quarter 2016.
UNITED STATES:
[list][/list]…
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GBP/AUD POSSIBILITY OF RETRACEMENT

UNITED KINGDOM
  • Consumer prices in the United Kingdom rose by 2.3 percent in the year to March 2017, the same pace as in February 2017.
  • UK unemployment rate held at an almost 12-year low of 4.7 percent in the three months to February 2017.
  • The British economy advanced 0.3 percent on quarter in the three months to March 2017, easing from a 0.7 percent growth in the previous period.
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GBP/NZD MAY SEE SOME CORRECTION

UNITED KINGDOM
  • Consumer prices in the United Kingdom rose by 2.3 percent in the year to March 2017, the same pace as in February 2017.
  • UK unemployment rate held at an almost 12-year low of 4.7 percent in the three months to February 2017.
  • The British economy advanced 0.3 percent on quarter in the three months to March 2017, easing from a 0.7 percent growth in the previous period.
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NZD/CAD MAY SEE SOME RETRACEMENT

NEW ZEALAND
  • New Zealand GDP Growth Slows More Than Expected in Q4 2016.
  • New Zealand Holds Interest Rate At 1.75% in March 2017.
  • New Zealand February Trade Deficit Largest Since 2007 in February 2017.

CANADA
  • Canada Jobless Rate At 2-Year Low Of 6.6% in February 2017.
  • Canada Inflation Rate Slows To 2% In February 2017.
  • Canada Trade Balance Shifts To Deficit In February 2017.
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NZD/USD MAY RISE FURTHER

NEW ZEALAND
  • New Zealand GDP Growth Slows More Than Expected in Q4 2016.
  • New Zealand Holds Interest Rate At 1.75% in March 2017.
  • New Zealand February Trade Deficit Largest Since 2007 in February 2017.
UNITED STATES:
  • The seasonally adjusted Markit final US Manufacturing PMI fell to 52.8 in April 2017 from 53.3 in March 2017
  • The Institute for Supply Management’s Manufacturing PMI in the US fell to 54.8 in April 2017 from 57.2 in March 2017
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