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Session Recap: USD broadly lower, China posts a trade deficit

FXstreet.com (Barcelona) - An Asian trade dominated by the first trade deficit in China in 12 months due to new lunar year as it has been the case in last few years, showing decreasing exports with increasing imports, what favors neighbor exporting economies such as Australia, main trade partner for the Aussies, making AUD/USD to spike above the 1.05 handle, though still with not much of a follow through.

Despite worst Australian consumer sentiment data released in a year, what weighed on slightly negative domestic ASX index, local share markets in the Asia-Pacific are showing gains, with Nikkei up +0.73%, and USD lower across the board, including against Yen.

EUR/USD keeps being capped by the 1.3100 handle, while USD/JPY holds above the 99.00 round, NZD/USD broke above 18-month highs 0.8520, and AUD/USD above 1.05, with commodities stable at recent levels off fresh multi-month lows, Gold last at $1587, and Oil at $93.7.

Main headlines in the Asian session:

Forex: EUR/USD knocks the 1.3100 door again; The EUR rises on JPY sell-off

Forex: NZD/USD cracks 18-month highs above 0.85

Australian overnight press: Fitch warns NZ banks of housing bubble

Australian Treasurer Swan: AUD is ‘defying gravity’

Forex: EUR/JPY stalls below the 130 handle

China Securities Journal: No reason to tighten monetary policy

Forex: USD/JPY holding above 99.00

Australia Apr Westpac Consumer Confidence declines to -5.1% vs 2%

Japan PM Abe: To continue easing until inflation target reached

China posts trade deficit in March

Forex: AUD/USD strengthens bullish case; 1.0516 new high post China trade

Forex: EUR/USD, above 1.31 where true strength test begins

The Euro continues to show encouraging moves for the interest of buyers, surging to a new 3 ½ week high after investors joined forces to snap the price back up away from a retested 1.30 area earlier Tuesday. The next round number at 1.31 is currently acting as temporary resistance for the pair ahead of Europe.
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Forex: EUR/USD hovering over 1.3075/80

After hitting fresh multi-week highs above 1.3100 on Tuesday, the shared currency given away some pips and returned to the current area of 1.3075/1.3100 after China unexpectedly printed a trade deficit...
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