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Forex Flash: AUD - a snap shot pre dating RBA cut – TD Securities

FXstreet.com (London) - Alvin Pontoh, Asia-Pacific Macro Strategist, FX & Rates Strategy at TD Securities notes that The number of home loan commitments (owner-occupiers) jumped +5.2% m/m in March (mkt: +4%, TD +5%) to be up +6.3% y/y. He wrote that investment lending rose +2.1% in March, to be up 21.3% compared with a year ago. He explains that one month of data certainly does not make a trend, but the outcome is encouraging and suggests that credit flow rebounded in Q1. Separately, he states, the April NAB business survey revealed that conditions remained tough for businesses (-6, from -7), while confidence worsened from already below average levels (-2, from +2).

Forex: GBP/USD clings to positive territory at 1.5366/70

The GBP/USD has eased off its highs from earlier in the European session (1.5383), though the cross has still managed to cling to positive territory Monday. In the absence of any meaningful data outside of an earlier Chinese release, the cross is now trading at 1.5366/70, still up a modest +0.05% in these moments.
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Commodities Brief – Precious metals retreat off highs, bearishness outlooks loom

Gold prices traded unevenly overnight, following soft Chinese data and the realistic scenario that a steadfast recovery in China is not as clear-cut as previously thought. Following a dip in price on Friday, the bearish bias is still favored, however a daily close below 1440.00 is needed to confirm further downside this week. As such, prolonged stability below 1440.00 will confirm the completion of a minor double top pattern, and hints the resumption of the overall bearish wave. The price of gold has fallen off the 1437 handle from earlier, to now test USD $1429.54 per oz. in these moments.
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