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Commodities Brief: Silver prints fresh 7-month low

FXstreet.com (Barcelona) - In a day when natural correlations between Gold and USD have turned back to natural, Gold dipped more than $25 from weekly highs yesterday at $1604 for the June contract, the one most traded at the moment by far, down to fresh 3-week lows at $1574, while USD climbed from 6-day lows at 82.5 to current 82.89, still capped below the key 83 level.

Gold is last at $1575, down -1.48% at the NY close, while USD is up +0.2% on the day, also pushed by US treasuries that saw an early dip in yield for the US 10 year note to as low as 1.82%, followed by some release to 1.86% from equities buying that prompted SP500 to set yet another all time record high and close at 1570 up +0.52%. Oil in the other hand was mixed, closing almost even at -0.02%, printing a daily doji candle with practically no body and a high/low range $96/97, last at $96.95.

Silver was the big loser instead and closed down -2.72% in NY at fresh 7-month lows $27.22.

Forex: EUR/USD unable to trade above 1.2880; focus on ECB

The Euro finally closed around the 1.2820 after being unable to break above the 200 days MA at 1.2880. After falling almost 1000 pips in two months from the February 1st high at 1.3710 to the last week low of 1.2755, the EUR/USD was trading on recovery mode to test the 1.2880 but the single currency remains fragile and kept the negative path.
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Forex Flash: RBA rate call in May next potential date to cut - Nomura

According to Nomura, yesterday's RBA monetary policy statement barely changed its position from March, still keeping the door open for further rate cuts.
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