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Forex: EUR/USD bounces off lows, around 1.3030

FXstreet.com (Barcelona) - After dipping to the boundaries of the key limestone at 1.3000, buying interest is now lifting the cross to the area of 1.3035/40, as the risk aversion seems to be taking a breather.

Data wise, the Italian Industrial Output posted an annual contraction of 5.2% in March and fell 0.8% on a monthly basis, both prints coming in below estimates at -3.9% and -0.2%, respectively.

EUR/USD is now down 0.17% at 1.3019 and a breach of 1.3010 (low May 9) would open the door to 1.2992 (MA200d) and finally 1.2988 (low Apr.25).
On the flip side, the first hurdle is located at 1.3075 (MA21d) ahead of 1.3100 (MA10d) and then 1.3194 (high May 8).

Forex Flash. China continues shuffle towards full FX convertibility - BBH

Brown Brothers Harriman analysts note that China’s State Council said it will unveil an operational plan this year to make the currency fully convertible on the capital account.
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Commodities Brief – Silver surrenders 24.00 level, crude weakens below 96.00

Gold pushed slightly lower yesterday, however this remains confined within the same trading range among 1440.00-1485.00. Indeed, with all the action surrounding the Japanese yen, the yellow metal has played second fiddle. In these moments, the price of gold is trading at USD $1456.84 per oz., falling into negative territory on the day after a slight retreat during the European session. A breakout of this trading range is ultimately required to speculate on the next potential direction.
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