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(U2) Uptrend Intact


Timeline of key events (Times BST)


Watching Resistance


Bund Weakness Unwinds Early Richening


KRW & IDR The Strongest Performers


(U2) Trend Signals Still Bullish

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US DATA: 1Q current acct -$124.1b vs revised -$116.1b in 4Q, due 
primarily to a $7.8b widening in the goods and services gap. 
- The primary income surplus narrowed by $0.4b, while the secondary 
income gap narrowed by $0.2b, so the key impact on the headline 
number was from the goods and services gap. 
- The 1Q current acct gap was 2.5% of GDP, compared with 2.4% in 4Q. The 
data include annual revisions. 

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