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Forex Flash: USD/CAD finds 1.0160 double bottom; upside risks - TDS

According to Mr. Osborne: "The short-term pivot for USD/CAD at 1.0155/60—the lows seen after the initial rally on Friday—has underpinned the USD so far today and provided the platform for what looks to be a strong advance intraday. The very short-term picture suggests a minor double bottom at 1.0160, triggered by a push through the 1.0184 trigger which implies upside risk to 1.0210/15 over the balance of the session."

China CPI comes below estimates

China Consumer Price Index for the month of March came below market expectations, with the monthly read at -0.9% vs -0.6% expected in a Reuters poll and +1.1% in February. On a yearly basis, March saw the CPI stand at +2.1% s 2.4% expected, with the prior February read at +3.2. With regards to the China PPI YoY, it came slightly lower-than-expected at -1.9 vs -1.8% estimates and-1.6% the prior month.
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Forex: NZD/USD testing long term resistance below 0.85

NZD/USD is last at 0.8486 bids, slightly off recent fresh 2-month highs at 0.8496. The pair is up +0.67% for the week so far, following best NZIER business confidence data since early 2012, and China CPI year on year slowing down to 2.1% when market was expecting an increase of +2.4% coming from previous +3.2%.
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