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Germany and Scandies up, France and peripherals down as month ends

FXstreet.com (Barcelona) - The German DAX 30 (+0.15%) is edging higher as the European morning ends, along with Scandinavian indexes, Norway (+0.21%), Sweden (+0.61%) and Denmark (+0.36%), while the French CAC 40 (-0.50%) falls along with the peripheral indexes, such as the Italian FTSE MIB (-0.30%), the Spanish IBEX 35 (-0.27%) and the Greek ATHEX (-1.64%). This Tuesday is the last day of April and investors are organizing their portfolios, while pricing in today’s economic data and expectations ahead of the ECB and FOMC meetings.

There are extra 4K unemployed in Germany in April, instead of the expected 2K, but the unemployment rate remains at 6.9%. German retail sales are already out, down -0.3% in March (MoM) to an annualized drop from -2.6% to -2.8%, lower than market consensus of 0.0% (MoM) and -1.2% (YoY). The German GfK May consumer confidence rose from 6.0 to 6.2, beating 5.9 consensus.

The Spanish estimate GDP Q1 came in line with expectations, at -0.5 (QoQ) and -2.0 (YoY). French Producer Prices eased from 0.5% to 0.0% in March, staying above the -0.1% consensus. Consumer spending beat expectations of 0.1% by rising from -0.2% to 1.3%.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a flat opening ahead of US consumer confidence and Chicago PMI: “Conference Board Consumer Confidence for April is expected to rise from 59.7 to 61.0 but we see risks tilted towards a better reading, as we do with the Chicago PMI. S&P/Case-Shiller home price data rounds out the key data today, with home prices expected to improve further in spite of some of the softer sales and construction data of late”, wrote TD Securities analysts.

Forex Flash: USD/JPY hampered by softer US data and yields - OCBC Bank

Emmanuel Ng of OCBC Bank notes that the cooler than expected US March core PCE numbers and the consequent softening in US yields may continue to hamper USD/JPY upside in the near term.
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Forex: NZD/USD capped by yesterday’s high at 0.8576

The NZD/USD showed signs of downside pressure very early in the day, with a drop to 0.8542 low, but then the cross climbed the chart throughout the Asian session and ahead of the European opening to reach as high as 0.8573, only to plunge back to its lows in a matter of 30 minutes. As of writing, the NZD/USD is quoting around 0.8562. Overall, the market is trading stronger since April 21, as support at 0.8400 holds.
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