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Forex Flash: India CPI decelerated in April but should rise further on cuts in fuel subsidies – TD Securities

FXstreet.com (Barcelona) - The Indian CPI decelerated from 5.9% in March to 5.6% Y/Y in April, printing slightly below consensus and our 5.7% forecast. According to TD Securities analysts, the decline reflected a small drop in administered and core prices, mainly fresh food, processed food and clothing. “Inflation remains above the BI’s upper target of 5.5%, and will rise further as the government has pledged to deliver cuts in fuel subsidies in May. We expect that a rise in inflation throughout the year will drive Bank Indonesia to raise interest rates by 75bp, starting in Q4’13”, wrote analyst Marcin Budkiewicz.

Forex: EUR/USD climbs above 1.3200

The shared currency is extending its correction higher on Wednesday, leaving behind the key resistance at 1.3200, as market participants remain biased towards the riskier assets...
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Session Recap: Euro outperforms ahead of FOMC

FX market remained in calm consolidation gearing up for the upcoming risk events, i.e.: FOMC decision on Wednesday, the ECB announcement on Thursday and US NFP reports on Friday.
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