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Most majors trade sideways in shadow of.......>

FOREX
FOREX: Most majors trade sideways in shadow of busy Friday
-EUR/USD traded in an incredibly tight 14 pip range across the Asia-Pac and
European morning sessions, with most other majors following suit. Newsflow was
relatively light overnight, with markets appearing happy to sit on the sidelines
ahead of tomorrow's nonfarm payrolls release from the US. Large option expiries
are also anchoring spot at present, with large strikes at $1.1250 in EUR/USD.
-Equities have pulled back somewhat after a decent session Wednesday, dragging
EMFX with it. ZAR, TRY in particular look weak as well as the INR after the RBI
rate decision this morning. The RBI cut rates (alongside expectations) by 25bps,
maintaining their neutral stance but laid the groundwork for further monetary
easing by cutting their inflation forecast for the six months to September. Many
now see the June meeting as 'live' for the RBI. USD/INR rose for the first
session in four, but remains shy of the week's highs.
-US weekly jobless claims and Canada's Ivey PMI are the data highlights
Thursday. The ECB March minutes and speeches from Fed's Mester and Harker are
also due.

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