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Forex Flash: NOK Inflation Stronger that Expected - TD Securities

FXstreet.com (London) - Tim Davis at TD Securities said in a report that the Norwegian inflation was stronger than expected with headline CPI at 1.9% Y/Y (mkt 1.5%), and underlying CPI at 1.5% (mkt 1.0%, Norges Bank 1.1%). He said that food prices were a big driver, with 1.1% M/M gain in April (this is NSA data) the strongest April reading in the last decade at least.

However, he notes that with food prices soft last month due to the timing of Easter, this is not quite as big a rise as it appears at first glance. He also points out however, that the housing/fuels category also increased more than normal for April and the recreation component was also stronger than normal for April. ’So all in all, even ignoring the move in food prices, the CPI-ATE is still a little stronger than the Norges Bank had forecast in March', as Tim Davis sums this up.

Forex Flash: USD/JPY shows market asymmetry - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the Yen’s (Abe-induced) fall from grace is a good example of market asymmetry playing out.
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Forex Flash: Bunds show signs of bottoming out? – RBS

According to Technical Strategist Dmytro Bondar at RBS, “Recent price action for Bunds suggests price charts, suggesting the correction is over for now. The selloff however brought quite a significant damage to the charts, taking off the 145.46/50 support on close and moving the price beneath 20-day MA.”
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