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Forex Flash: UK retail sales for the GBP and Italy Presidential election for the EUR – TD Securities Of great interest to investors, particularly GBP trading, is the UK retail sales report for March:

FXstreet.com (Barcelona) - xOf great interest to investors, particularly GBP trading, is the UK retail sales report for March: “We see a bigger fall than consensus for retail sales after the outsized jump in February. With another month of miserable weather, there could be a decline of –1.0% or more, compared with consensus expectations for a smaller correction of –0.6%”, wrote TD Securities analyst Annette Beacher, expecting the EUR to be moved by news in regard to the Presidential election in Italy. “The Italian government begins voting to elect a new President. For the first three votes (the government can conduct up to two votes per day), we need to see a 2/3 majority to elect a President, but starting from the fourth vote, we only need to see a simple majority (>50%) to elect someone”, said Beacher, adding that it’s still unclear whether there has been enough agreement between the main parties to get sufficient votes for a single candidate to elect.

Forex: USD/CHF calm at 0.9318 ahead of SNB’s Zurbrugg speech

The USD/CHF rose to 0.9332 ahead of the European opening, only to retrace back to 0.9318 and risking a move back to the daily low at 0.9309. SNB board member Zurbrugg will be speaking at 09:00 GMT. Ahead of that, investors will be eyeing both Spain and France bond auctions.
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Commodities Brief – Gold edges higher to test 1385, crude records lows of 86.00

Gold prices have faced tremendous headwinds lately, hampered by demand, panicking selling, and fierce bearish pressure this week. Following an otherwise earlier ugly weekly segment for commodity trading, the yesterdays session in conjunction with today seems to have steadied the nerves of investors – though the largest plunge in 30 years clearly weighs fresh on investors’ psyches. Thursday has seen a modest recovery for the yellow metal, as prices have now risen to trade at USD $1385.05 per oz. in these moments. However, despite the initial path upwards, gold faces tremendous bearish pressure in the near-term and strong resistance at the 1400 level.
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