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Session Recap: Australia CPI softens; USD unchanged

FXstreet.com (Barcelona) - Not much of a move today in the Asia-Pacific as it has been the norm so far this week, with EUR/USD totally unchanged at 1.2999 last, and more or less the same for USD/JPY at 99.43, while AUD/USD is slightly lower at 1.0248, and GBP/USD slightly higher at 1.5244. USD index remained flat as a result.

Gold at $1423 and Oil at $89.22 both trade near session highs, with local share markets all in the green without exception, lead by Nikkei up +1.64% printing fresh almost 5-year highs, and Australian ASX index gaining +1.52% for the day, on hopes the RBA could cut again either next month or in June.

Australia CPI came in bot lower than expected for the 1Q and year on year, at +0.4% v +0.7% and +2.5% vs +2.8% respectively. Previously, RBNZ left rates on hold for the rest of year 2013, as the central bank said in the statement, sending NZD/USD higher at first instance.

Main headlines in the Asian session:

Apple quarterly earnings beat estimates

RBNZ expects to keep rates unchanged throughout 2013

Forex: AUD/NZD sharply lower after RBNZ holds rates at 2.50%

Forex: USD/JPY at the 99.50 threshold; Looking for the almost there 100.00?

Australia: Recap of PM Gillard’s China trip

Forex: EUR/USD closes below 1.3000 as German PMI data disappoints

Bloomberg – German Ifo Confidence Probably Fell as Winter Chilled Recovery

Japan Mar Corporate Service Price (YoY) down to -0.2% vs 0.0%

Forex Flash: We believe sentiment regarding Gold has become too bearish – Nomura

Forex: EUR/JPY pushing higher, still negative for the week below 130

Australia’s Swan says ratings agencies reaffirm Australia’s AAA credit rating

Japan’s finance minister Aso: Japan’s fiscal situation is ‘very severe’

Australian CPIs softer-than-expected

Forex: AUD/USD edges lower on CPI miss

Forex: NZD/USD eases below 0.8450

Forex: AUD/JPY still range bound after Aussie CPI data disappoints

Australian treasurer Swan: Inflation is contained

Forex: GBP/USD still forming possible “bear flag” on daily chart

Forex Flash: Expecting a cut in ECB rates for May/June - RBS

Forex Flash: Buy USD/THB targeting 29.70 - ANZ

After the Thai baht outpaced all its competitors in the Asian region year-to-date, in view of Khoon Goh, Senior FX Strategist at ANZ, "the strength goes well beyond fundamentals and is at risk of a corrective move."
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Forex: EUR/USD pressured by German PMI data, German IFO on tap next

After holding the 1.3000 support pivot numerous times over the past two weeks, the pivot finally gave way as weak German PMI data (47.9 actual vs. 49.1 estimates) fueled more talk of possible ECB rate cuts in the coming months. Although the pair did close below the 1.3000 level, some analysts found the lack of follow through to the downside impressive and believe the key will be to see how it reacts to data in coming sessions. The main report due out today will be the German IFO which is released at 8:00 GMT.
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