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Session Recap: Euro weaker, Antipodeans hold onto gains

FXstreet.com (Córdoba) - Major FX crosses remain in their recent consolidative ranges, although Antipodean currencies continue to outperform, underpinned by strong employment reports from both New Zealand and Australia.

The euro gave up some ground after failing to break above 1.3200 on Wednesday, with EUR/USD dropping to the 1.3125 area. The Pound received a lift following BoE decision to stay on hold in May, but it was unable to sustain gains and returned to the 1.5550 zone. USD/JPY is a tad lower at the 98.70 area.

Main Headlines in Europe (in chronological order):

Commodities Brief – Precious metals ease slightly ahead of BoE, crude oil holds above 96.00 barrier

UK: Annual Industrial Production falls 1.4% in March

ECB Monthly Report: Rate cut to support recovery later in the year

Greece Unemployment Rate (MoM) (Feb): 27% vs 26.7% (Jan)

Spanish borrowing costs fall at debt auction

Portugal 1Q Unemployment Rate rises to 17.7% vs 16.9% (4Q)

Buba's Weidmann urges EU countries to continue reform efforts

European equity markets incur tepid losses ahead of BoE

BoE stays on hold in May

Forex: AUD/USD eases to 1.0219/21

The AUD/USD shot up overnight following what was a highly optimistic data release for Australia. However, the European session has been classified by retracement for the pair, leading to a general easing off intraday highs (1.0256) back to 1.0219/21 in these moments. Despite this easing however, the cross is still securing an advance of +0.51% above its opening.
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