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Forex: USD/CAD erases intraday gains

FXstreet.com (Córdoba) - The US dollar gave up ground across the board and erased gains versus the loonie, as risk appetite improved during the American afternoon and US stock indexes recover.

USD/CAD dropped over 20 pips within the last hours, slipping from a daily high of 1.0277 to a low of 1.0253 in recent dealings, matching the low set in Europe. At time of writing, USD/CAD is trading around 1.0255/60, where it is virtually unchanged since opening.

In terms of technical levels, next supports could be found at 1.0249 (low Apr 22), 1.0227 (10-day SMA) and 1.0210 (low Apr 17). On the other hand, resistances are seen at 1.0277 (daily high), 1.0285 (high Apr 22) and 1.0300 (psychological level).

Forex: GBP/USD orbiting around 1.5265/70

The pound is prolonging its bounce off 1.5250 during the European afternoon, recovering ground to the current area of 1.5265/70...
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Forex Flash: UK to avoid triple-dip recession after rising 0.1% in Q1 - RBS

The National Statistics is scheduled to publish the UK Q1 GDP report on Thursday at 8:30 GMT (9:30 London time) and market is expecting the UK to publish a weak 0.1% QoQ growth in the Q1, and 0.3% in year basis. RBS analysts expect the same 0.1% increase in the quarterly basis but they are more optimistic with 0.4% growth year to year.
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