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Forex Flash: PM Abe maintains momentum - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that the job approval rating of the Abe cabinet has remained elevated amid the improving economic outlook and better financial market conditions.

He comments that the cabinets job approval rating inched down to 69% in March from 70% in the previous month, according to Nikkei. However, although the approval rating declined slightly, the level is still higher than 62%, when Mr. Abe took office. He writes, “Mr. Abe's popularity remains significantly higher than his recent predecessors, including Mr. Abe himself in 2006-07. For example, his job approval rating declined by 20% during the first four months when he became the Prime Minister in 2006.”

Forex Flash: Expect further USD strength in Q2 – JP Morgan

Broad and significant USD strength was seen in Q1 and JP Morgan analysts expect this trade-weighted trend to persist in early spring but not for all of Q2. “Targets continue to reflect country-specific factors which have been dominating currency markets this year, rather than a top-down view on the dollar”, they wrote, pointing to the EUR/USD at 1.32, USD/JPY at 97, GBP/USD at 1.47, AUD/USD at 1.05, USD/CAD at 1.01, USD/MXN at 12.30, USD/BRL at 1.90, USD/KRW at 1060, USD/INR at 55.5 and USD/ZAR at 8.90 in Q2.
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Commodities Brief – Precious metals rally on Cyprus comments, crude oil surges above 95.00

The yellow metal lost its grip on the 1600 level Monday, as it bottomed out at the 1591 mark (intraday low) as investors optimism permeated the markets on news that a Cyprus resolution was to take effect. However, this resolve was evidently short-lived after disparaging remarks from the Chairman of Cypriot Parliamentary Finance Papadoloulos, in which he noted that they must assess benefits of a euro exit. On the heels of these comments, gold prices recovered slightly towards the USD $1597.57 per oz. mark in these moments, still operating negatively Monday.
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