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Forex Flash: European stocks push higher 2-3% - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that European stocks were mostly higher by 2-3% yesterday, more than the average 1% rise in US stocks.

Even so, they add that EU stocks are unlikely to hold on to these gains if IFO delivers a back-to-back disappointment today. Conversely, a better IFO would also hold EUR/USD above its 1.2970 support today and return it to its 1.30-1.32 range.

Forex Flash: Chinese data continues to miss forecasts - BBH

Brown Brothers Harriman analysts note that yesterday, HSBC China April flash PMI came in at 50.5 vs. expectations for 51.5 and this reading had taken on a bit more importance in light of the weak China Q1 data reported since the March PMI reports.
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Forex: EUR/CAD recovers the mark of 1.3341/44

The EUR/CAD fell below the 1.3300 level Wednesday, testing support briefly at 1.3297 (session low), before rising sharply over 40 pips to trade at 1.3341/44 presently. At this level, the cross has pared all its losses and is trading positively +0.08% above its opening.
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