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Forex Flash: All is not lost - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that except for NZD, the majors essentially pulled higher against USD on Wednesday as markets cheered better than expected global economic releases.

Elsewhere he adds, NOK jumped higher after Norges Bank left interest rates unchanged and came across as slightly more hawkish than previously expected. Meanwhile, he notes that NZD slid in Asian trade after the RBNZ governor noted minute amounts of intervention to cap the currency, but the pair bounced early today on the back of better than expected 1Q labor market numbers. He feels that regarding the RBNZ, he does not expect the central bank to adopt an activist approach to contain the NZD, hence the limited fallout from governor Wheeler’s comments. Further, he writes, “On a related note, the AUD continued to sulk after the recent surprise rate cut by the RBA and ended largely unchanged against the greenback.”

Spain Industrial Output Cal Adjusted (YoY) up to -0.6% in Mar from -6.9% in Feb

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Forex: AUD/USD consolidates gains above 1.0200

The Aussie dollar managed to follow through the key level at 1.0200 on Thursday, helped by the stronger employment data in the domestic economy during April, with the jobless rate ticking lower to 5.5% and...
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