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Forex: USD/CAD finds support as Draghi speaks

FXstreet.com (Barcelona) - Despite spiking higher in early trading, USD/CAD has declined today, and is currently finding an element of near term support as ECB President Draghi is speaking at the EU Parliament.

The pair initially climbed to post a high at 1.0257, coming close to confirming yesterdays high a pip higher, before declining throughout the European session. Spot made a daily low at 1.0204 but has found a touch of support where it is currently trading at 1.0215, just below the daily pivot point at 1.0216. Today´s data has seen an increase in Canadian overseas investment, but a decline in overseas investment in Canada, while in the US, data has largely been disappointing. Hourly Stochastics are at 17 and look to be heading deeper into oversold territory, while RSI remain relatively stable at 44.

Forex: EUR/JPY retraces yesterday’s losses, 2.0% higher on the day

Following yesterday’s drop from 128.94 to test the 125.00 psychological level, the EUR/JPY retraced those losses back to 128.91 and remains close to that area as the NY session takes place and US data gets released.
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American equity markets recover Tuesday

The US stock market experienced a steadfast surge Tuesday, attempting to pare some of yesterday’s losses. In the United States, Consumer Price Index (YoY and MoM) came in at +1.5% in March (against expectations of +1.7%) and -0.2% in March (vs. projections of +0.1%). Finally, Consumer Price Index ex Food & Energy (YoY) yielded a growth of +1.9% in March, compared to estimates of +2.0%.
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