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Major FX crosses were range-bound in..........>

FOREX
FOREX: Major FX crosses were range-bound in today's quiet Asia-Pacific session.
The Antipodeans outperformed among the G10 currencies, with NZD leading gains,
as comments re: fiscal stimulus flowing from the Chinese FinMin lent support.
- Worth mentioning AUD knee-jerked lower after a softer than forecast domestic
retail sales print, but immediately retraced the move, as the latest Australian
trade data revealed a wider surplus than exp. Elsewhere, UBS revised its RBA
call, echoing yesterday's revision by J.P. Morgan. UBS effectively front loaded
their earlier view and now look for two 25bp cuts in July and August of this
year.
- JPY traded mixed, despite being aided by the Nikkei 225 & U.S. equity index
futures operating in the red.
- Focus today turns to the ECB MonPol decision, EZ GDP (f) and U.S. initial
jobless claims. Elsewhere BoE's Tenreyro, Riksbank's Ingves & Skingsley, BoC's
Patterson and Fed's Brainard will speak.

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