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United Kingdom CBI Industrial Trends Survey - Orders (MoM): -25 in Apr from -15 in Mar

Forex: AUD/USD off 1.0220 lows made by disappointing China PMI

The AUD/USD is being pressured on Tuesday following the disappointing China HSBC flash manufacturing PMI, at 50.5 in March, instead of the 51.5 consensus. The cross fell 50 pips from 1.0270 area to be held above 1.0220 during the Asian session. As of writing, however, the market is retracing losses back to 1.0250 for now and despite the disappointing German flash PMI data in April as Italy and Spain are having its lowest yields for their debt of the last 18 months.
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Forex: USD/CAD upside blocked at 1.0285 ahead of Canada retail sales

The USD/CAD is stronger today as disappointing news coming from China and Germany pressure risk takers. The cross rose to test yesterday’s high of 1.0286 by mid-European session and is now erasing some gains, at 1.0267.
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