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Forex Flash: Another busy data for data with weekly jobless claims, April CPI and housing starts, and the Philly Fed index for May

FXstreet.com (London) - Alvin Pontoh, Asia-Pacific Macro Strategist, FX & Rates Strategy for TD Securities expects another busy data for data with weekly jobless claims, April CPI and housing starts, and the Philly Fed index for May.

He said that inflation pressures are expected to ease further in April, with headline CPI falling from 1.5% to 1.3% Y/Y, and core CPI from 1.9% to 1.8% Y/Y. He expects the rest of today’s data is expected to be on the weak side, with housing starts down 6.4% M/M and the Philly Fed eking out only a 0.7pt increase to a still barely-positive level of +2.0 for May. He also say’s today is also an extremely busy day on the Fed speaking circuit, with Plosser at 8:45am, Rosengren at 12:45pm, Fisher at 2:00pm, Raskin at 5:30pm, and Williams at 8:05pm (all times BST).

Forex: NZD/USD testing the 0.8200 supportive barrier

The kiwi has turned unmistakably sour Thursday, ending what was a very successful run for the NZD since yesterday. The upside was capped at 0.8251 during overnight trading, and the pair has been in decline ever since. During European trading, the cross is now firmly entrenched in negative territory, incurring a loss of -0.55% as it tests the 0.8200 barrier.
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