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Forex Flash: Toshins are gathering steam - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that Japanese retail investors were net buyers of foreign securities via toshins in April for the second month in a row.

He adds that according to high frequency data, recovery of toshin momentum is likely to continue in May. He writes, “We expect toshin momentum to recover gradually, as retail investors have clearly become more risk-tolerant. The gradual shift from AUD into EM currencies in the toshin market continued in April. In particular, TRY is getting more popular in toshin market.”

Commodities Brief – Precious metals inking fresh intraday lows, silver precariously close to 22.05 critical support

Gold extended the downside move Thursday, to breaking the 50% Fibonacci level at 1405.00, which hastened the move towards the 61.8% around 1385.00. The price initially tried to attempt to correct some of the losses, as the RSI dipped within oversold territory, however has proven to be unsuccessful. The price of gold is trading at intraday lows, operating at USD $1371.62 per oz. in these moments. Should any bounce and retest occur towards the 1405.00 mark, this could effectively provide another short opportunity, as the downside pressure remains absolute moving forward.
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GBP/CAD testing the1.550 handle

The pair has been trading off the lows from the NY session overnight in Asia but failed to breach resistance 1.5490 and drifted lower back to support 1.5460.
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