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Forex Flash: Sanity check for the yen - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the dollar backtracked against the majors on Tuesday with NZD, AUD and EUR leading the way higher.

He sees that EUR was also undaunted by Moody´s indicating that Spain will miss its fiscal targets this year. Meanwhile, he sees that USD/JPY also consolidated lower to 99 as markets digested the pair´s recent gains. Looking ahead he feels that the spotlight may shift to the dollar again with the FOMC minutes on tap. Specifically, he feels that investors will be looking for any discussions surrounding the shelf life of the asset purchase program as well as the assessment of the US economic recovery. For the rest of the week, China’s March monetary aggregates are also due to be released and indications of a controlled expansion may well continue to cheer investor sentiment.

Asian equity markets edge higher after Chinese trade balance miss

Stock indices in Asia experienced a sudden jolt, following the uneven economic data out of China, perhaps none other than the Trade Balance statistics in March (-0.884B vs. 15.400B) projected. In addition, commodities experienced a modest rise ahead of the FOMC minutes later today, with precious metals building on yesterday’s recovery.
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Forex Flash: South Korean rates on hold could be a wake up call - Nomura

Nomura economist Young Sun Kwon is expecting Q1 GDP to accelerate from Q4 and the BoK to stay on hold, surprising the market which seems hypnotised by the Government´s unconvincing GDP forecast.
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