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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

US DATA
US DATA: PPI below-expected +0.2%, core +0.1%; Claims 228k; Trade -$50.0b 
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- April PPI was below expectations for a 0.3% gain from BBG and MNI 
- Core PPI was also below expectations for a 0.2% gain from BBG and MNI 
- Also released, jobless claims higher-expected -2k to 228k in May 4 wk. 
- Claims 4-week average +7,750 to 220,250, likely to rise next week
- The international trade gap narrowed to -$50.0b vs -$51.1b MNI expected.
- Energy prices +1.8%, but food prices -0.2% and trade services -0.5%.
- The year/year rate stayed at 2.2% for overall and at 2.4% for ex-food 
and energy PPI. It rose by 0.2pp to 2.2% for PPI ex-food, energy, and 
trade services.
- Personal consumption prices, a proxy for PCE prices, +0.1%, while 
prices ex, food, energy flat. PCE prices will be released on May 31.