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Forex Flash: Economic data not enough to warrant BoC rate adjustment – RBS

FXstreet.com (Barcelona) - According to analysts at RBS, “We do not expect any policy shift by the Bank of Canada (BoC) at its policy decision on 17 April. In our opinion, the data since the 6 March decision is not enough to warrant a material change in policy in either direction. We also do not think the data in the past quarter is enough to cause BoC officials to dramatically alter their outlook in the quarterly Monetary Policy Report (MPR), which will be released at the same time.”

Additionally RBS comments, In particular, we continue to monitor developments particularly related to portfolio flows, given uncertainty amid external drivers and mixed domestic data. That said, for now we continue to look for USD/CAD to move closer towards parity.

Forex: AUD/USD struggling below 1.0400

One hour away from Westpac Leading Index at 00:30 GMT, AUD/USD is last at 1.0391, still capped below the 1.04 handle, as it has been for all NY session long. The Australian dollar is along with Kiwi, the 2 weakest currencies among majors for last 2 trading days, recovering from yesterday's fresh 1-month lows at 1.0290. The pair is down -1.12% for the week so far.
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Forex: EUR/USD forcing sellers out; 1.3110/40 new buyers stronghold

The Euro/US Dollar upside resolution through Tuesday has opened up further scope for the exchange rate to appreciate, after selling orders were finally absorbed at the 1.3040/60 supply area, causing the price to go semi-ballistic until 1.32, where profit taking was observed after the stop loss orders shake-up.
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