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Forex Flash: South Korea surprised with a 25 bp rate cut to 2.5% - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that South Korea surprised with a 25 bp rate cut to 2.5% overnight.

They comment that the cut weighed on the won, against which the dollar gained almost 0.5%. and helped the Kospi rally and its 1.2% gain was the best in the region and among the best globally today, as the MSCI Asia-Pacific Index snapped a 4-day advance. Elsewhere, they note that Thailand's central bank seemed to confirm the likelihood that a rate cut may soon be delivered and this underpinned Thai shares. Also, Malaysia’s central bank kept rates steady at 3.0%, as expected, despite weak trade and IP data for March reported this week.

Forex Flash: Can the US lift Canadian growth? - Nomura

Nomura economist Charles S-Arnaud wonders whether the US can lift Canadian growth.
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Forex Flash: NZD/USD strategy profile – Westpac

The economic calendar is busy but second tier next week. We have food prices (Monday), retail sales volume (Tuesday), PMI (Thursday), PPI and monthly consumer confidence (Friday), and REINZ housing sometime during the week. More important perhaps will be the Budget (Thu), which should deliver an on-target return to surplus by 2015.
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