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Forex Flash: Markets to focus on America's improving labour data - UBS

FXstreet.com (Barcelona) - “For now,” says Mansoor Mohi-uddin, Managing Director Head of Foreign Exchange Strategy at UBS Macro Research, “the currency markets will continue to focus on America's improving labour market data.”

According to the analyst, FED Evans “said he was looking for monthly payrolls to rise on average above 200k in order for the Fed to consider slowing down its pace of asset purchases. Evans' views matter,” Mansoor notes, adding: “This year the six month moving average of payrolls growth has already reached 208k per month.”

From UBS: “Lower weekly jobless claims data will increase expectations that the Fed will begin to scale back its quantitative easing. Indeed the latest Wall Street Journal article from Jon Hilsenrath published late on Friday night says that officials have mapped out a strategy for winding down the Fed's bond buying. That will keep pushing the dollar higher this year,” Mr Mohi-uddin concludes.

Forex Flash: NZD/USD with a downside bias this week - BNZ

For this week, in view of Mike Jones, currency strategist at Bank of New Zealand, "general sentiment towards the USD will be the most important driver of the NZD/USD", adding that "whether or not the greenback’s rally continues will largely depend on the relative strength of some key US data, with today's retail sales the first cab off the rank."
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Forex Flash: Likely see further erosion of long AUD in next week’s CoT report - TDS

Positioning by IMM speculative accounts was stable for most currencies in the week through Tuesday, May 7th, reports TD Securities team, "with the clear exceptions being the AUD and the CAD" they note.
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