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Forex Flash: S&P 500 looks bullish ahead - Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at the S&P 500 from a purely technical perspective.

Looking at his daily chart he notes that spot is up on the week and he is retaining his bullish view. He adds that the failure of spot to stay below the 20D SMA suggests that upside is more likely. He adds, “Also RSI rebounded back higher, which suggests we have reached a short-term low. With bandwidth falling, it implies that range-bound trading is most likely, and hence we could see a retracement within the range back higher. Our target is 1571 (upper Bollinger band).”

Forex Flash: Flat US economic activity a product of seasonals? – Westpac

Much has been made of supposedly biased US seasonal adjustment factors that have boosted jobs at the turn of the year in recent years before delivering softer outcomes into the middle of the year. According to the Westpac Strategy Team, “We are not so sure that the soft March US data is an artifact of faulty seasonals. If the seasonal adjustments are indeed biased they should if anything continue to flatter US activity for a couple more months”.
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Forex: GBP/USD hovering over 1.5350

What a week for the sterling! Considering that the cross printed weekly lows yesterday around 1.5040 and is now orbiting around 1.5350....
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