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Forex Flash: North Korean missile test could be conducted today – Deutsche Bank

FXstreet.com (Barcelona) - In Korea, tensions remain high on the peninsula after reports that a missile test could be conducted by the North as early as today. Pyongyang is believed to have finished preparations for a mid-range missile launch, after it moved two Musudan missiles to its east coast last week by rail.

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Officials in Seoul believe that North Korea could fire off a missile in the lead-up to April 15th to mark the birthday of late founding leader Kim Il-sung, the current ruler Kim Jong-un's grandfather.”

On the day however, Korean assets are better bid with the stocks trading 0.8% higher, while the Won is 0.2% firmer against the USD as markets look towards tomorrow's BOK decision. Korean sovereign CDS is broadly unchanged at around 84bp.

US: EIA Crude Oil Stocks change (April 5) reported at 0.250M

In the United States, the Energy Information Administration reported that crude oil stocks reported 0.250M, against a consensus of 1.600M, and compared with 2.707M previously.
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Forex Flash: Chinese data boosts CAD - TD Securities

They begin by noting that the overnight focus was on Chinese data, where robust import figures suggest domestic demand remains strong and it has boosted commodity currencies including the CAD.
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