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Forex Flash: Stocks up but EUR/USD and USD/JPY locked in range - Societe Generale

FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that equities keep on ascending but EUR/USD and USD/JPY are still locked in their April ranges.

However, meanwhile he notes that China's April trade balance data today topped market expectations, but there is widespread incredulity at the extremely strong numbers reported. Both Chinese exports and imports appear to have accelerated from March, at odds with the disappointing South Korean and Taiwanese data as well as China's own PMI surveys.

Commodities Brief – Gold stuck in tight consolidation at $1454, silver rebuffed by 24.00 barrier

Gold prices faced intraday weakness again, following a slight weakness below the 1456 handle. Indeed, the price has traded in an extremely tight consolidation Wednesday, devoid of any large sweeping movements. With the exception of the recent overnight news out of the antipodean economics regarding the RBA and RBNZ, the price of gold been unable to break in either direction on muted news. At the time of writing the price of gold has settled at USD $1454.27 per oz.
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Forex: EUR/USD upside stalled around 1.3120

The euro is now retiring to the area of 1.3090/1.3100 after the previous bull attempt run out of steam in the boundaries of 1.3120, as the effects of the Chinese trade data are waning....
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