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Forex: EUR/USD regains 1.3000

The euro staged an impressive rally during the American session, recovering from yet another yearly low of 1.2910 back above 1.3000 without a clear catalyst other than better risk appetite among investors combined with thick orders.

EUR/USD climbed over 100 pips from lows and recently reached a daily high of 1.3011. At time of writing, the cross is trading around 1.3005, recording a 0.3% gain on Thursday.

On the upside the key level to recover is 1.3080 (this week's range top) followed by 1.3100 (psychological level) and 1.3130 (Mar 8 high). On the downside, supports could be found at 1.2910/00 (Mar 14 low/psychological level) and 1.2860 (200-day SMA).

Forex: USD/CAD collapses below 1.0230 on refinery plans

After attempting to recover from 1.0250 and testing the 1.0275 level, the USD/CAD has been rejected at this price and currently it is falling hard to break below March 8th lows at 1.0230. The Canadian dollar is being fueled by news from a new refinery in the west coast that should propelled its national accounts by $1.6 billion per month.
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Forex Flash: UK Budget preview - Nomura

Looking towards the pending UK budget, Nomura economists Philip Rush and Andy Chaytor note that further disappointment at demand has brought some slight fiscal slippage, which is compounded by “one-off” factors in the short term.
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