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26 Apr 2013
Forex Flash: majors relinquished intra-day highs but ended up on dollar still - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the majors relinquished intra-day highs but managed to end higher against the dollar on Thursday after slightly better than expected initial claims lent some marginal support to the greenback.
He continues to note that CAD meanwhile made the most of the pickup in optimism towards the US economy and climbed across the board, with USD/CAD testing below 1.0200. He adds that meanwhile, background expectations of a potential ECB rate cut continued to hamper the EUR, which trailed its counterparts within G10 space. Elsewhere, GBP stole the limelight and jumped higher across the board on the back of better than expected 1Q GDP numbers. He notes that the BoJ meeting has seen most focus but later in the day, US GDP is also due and investors may remain on the sidelines pending these two risk events.
He continues to note that CAD meanwhile made the most of the pickup in optimism towards the US economy and climbed across the board, with USD/CAD testing below 1.0200. He adds that meanwhile, background expectations of a potential ECB rate cut continued to hamper the EUR, which trailed its counterparts within G10 space. Elsewhere, GBP stole the limelight and jumped higher across the board on the back of better than expected 1Q GDP numbers. He notes that the BoJ meeting has seen most focus but later in the day, US GDP is also due and investors may remain on the sidelines pending these two risk events.