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Forex: GBP/USD in 7-week highs

FXstreet.com (Barcelona) - The sterling is hovering over 1.5365/70 or 7-week highs on Thursday, lifted by increasing buying interest as risk appetite is taking over the markets.

“The amount of easing priced in by the market increased marginally post the April BoE meeting. This may reflect the view that the May meeting is shaping up to be a close call given weak data and the limited success of the FLS”, assessed Melinda Burguess, FX Trading Strategist at RBS.

GBP/USD is now advancing 0.12% at 1.5353 facing the next hurdle at 1.5364 (high apr.5) and then 1.5426 (38.2% of Jan-Mar fall).
On the downside, a breach of at 1.5251 (low Apr.9) would bring 1.5239 (low Apr.8) and finally 1.5235 (MA10d).

Commodities Brief – Precious metals hold amidst FOMC indecision, crude rally snapped

Gold prices experienced a stark fall during US trading yesterday following the FOMC leak Wednesday. Indeed, the Federal Reserve should start cutting back on purchases of housing bonds as soon as its next meeting, one top Fed official said on Wednesday, just hours after another said talk of trimming the central bank's bond buys was "premature." These divergent views however, the former from inflation hawk Dallas Fed President Richard Fisher and the latter from policy centrist Atlanta Fed President Dennis Lockhart, are emblematic of a split also on display in minutes of the Fed's latest policy-setting meeting. During European trading today, the yellow metal has stuck to a normal consolidation, as the 1561 level proved to be the extent of any recovery. In these moments the price of gold now trades at USD $1558.21 per oz. Ultimately, prolonged stability between the 1570 is bearish for gold, with an intraday bearish bias below this figure.
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Forex: NZD/USD establishing fresh highs at 0.8624/29

The NZD/USD has shot higher Thursday after receiving an impetus from domestic housing prices. The pair is establishing fresh maximums at 0.8624/29 in these moments, securing an advance of +0.58% above its opening as it bulls through resistance during European trading.
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