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Flash: No bona fide recovery in exports likely until at least Oct-Dec 2013 - Nomura

FXstreet.com (Barcelona) - Nomura economists think that Japanese April trade statistics indicate a possible loss of momentum for exports after firming in Jan-Mar.

They feel that considering also that the export orders index in Japan's manufacturing PMI, a leading indicator for exports, fell 1.7pt m-m in April, we look for exports to lose upward momentum for a bit owing to slowing overseas economies. They write, “Although we project an ongoing uptrend in q-q export growth thanks to the benefits of the sharply weaker yen, we anticipate no bona fide recovery in upward momentum until at least Oct-Dec 2013.”

Flash: What does the EUR/USD have to offer? – Commerzbank and UBS

The bloc currency is testing overnight highs in the proximities of 1.2940 on Wednesday, gathering pace after dipping to the boundaries of the key support at 1.2900...
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Eurozone: Current Account surplus widens more than expected in March

Eurozone Current Account surplus s.a. widened to €25.9 billion in March from €14.6 billion in February, according to data released today by the ECB. Analysts expected the surplus to widen only to €15 billion.
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