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USDCAD TECHS

Needle Still Points North

AUDUSD TECHS

Bearish Correction Still In Play

US DATA
US DATA: Advance estimate for 1Q GDP -4.8% vs -4.0% expected, largest drop since
4Q 2008 and a first sign of the impact from the coronavirus on the U.S. economy.
PCE fell -7.6%, the most since 1980, as did nonresidential fixed investment
(-11.6%), exports (-28.6%), imports (-15.6%) and private inventory investment
(-USD16.3B). The PCE price index +1.3% down from +1.4% in 4Q. Core PCE price
index +1.8% vs +1.3% in 4Q.