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Forex Flash: Australia activity will soften into the June quarter – NAB

Today's Business confidence data “improved significantly in the March quarter – the first quarterly rise in sentiment since December 2011,” said Economist at the NAB Alexandra Knight.

“That said, business conditions are still clearly signaling below trend growth,” the economist expands, adding: “Indeed, the NAB quarterly business survey points to domestic demand growth in March quarter 2013 of around 2¼%. More worrying forward indicators of demand remain subdued – notably forward orders, stocks and capital expenditure – suggesting activity will soften into the June quarter,” she noted. “There are indeed signs of that happening in the March Monthly Business Survey,” Alexandra concludes.

Forex: USD/JPY off earlier lows, range bound between 97.20 and 98.40 on 1 hour chart

After opening the session at 98.10 (and trading as low as 97.62), the USD/JPY has edged off earlier lows and is currently back to flat. Economic data is light this evening, with a few comments from Bank of Japan officials crossing the wires earlier.
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Forex Flash: BoC unlikely to hike rates until H2 2014 - Nomura

In view of Charles St-Arnaud, economist at Nomura, the recent Bank of Canada monetary policy decision, is not dovish, arguing that "while growth has been revised lower for 2013, the BoC remains confident that the economy will pick up strongly in 2014."
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