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EUR/USD weaker, challenging lows near 1.1550

The European currency remains under pressure on Thursday. Spot trades in session lows in the mid-1.1500s on stronger buck. Eurogroup meeting will take centre stage in Euroland today. The single currency is extending the downbeat momentum and is now dragging EUR/USD to the area of

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EU’s Malmstrom: US metal tariffs are seen as illegal

The European Union (EU) Trade Commissioner Cecilia Malmstrom is on the wires now, via Reuters, condemning the US metal tariffs. Key Headlines: No choice but to respond to US tariffs. US metal tariffs are seen as illegal. US tariffs are not in compliance with WTO rules.

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RBNZ likely to leave the OCR at 1.75% – ANZ

The RBNZ will leave the OCR at 1.75%, as universally expected, at the June OCR announcement next Thursday, according to Liz Kendall, Senior Economist at ANZ.  Key Quotes “A clear, consistent message will be retained: the RBNZ will remain cautious until inflation shows consistent signs

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Fed: Powell advocates for a gradual pace of rate hikes – TDS

Analysts at TDS note that Fed Chairman Powell’s appearance on the Sintra policy panel was used to advocate for a gradual pace of rate hikes. Key Quotes “Powell noted strong labor market conditions and downplayed labor market tightness, pointing to relatively modest wage growth.” “Meanwhile,

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NZ: Economy has lost some of its momentum – Westpac

Today’s figures reinforced that the New Zealand economy has lost some of its momentum in recent times as GDP rose by 0.5% in the March quarter, following gains of 0.6% in each of the previous two quarters, explains Michael Gordon, Senior Economist at Westpac. Key

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NZ GDP: Cooling gradually – ANZ

The NZ economy expanded by 0.5% q/q in Q1, in line with consensus expectations and is a more modest pace of growth than the 0.6% pace recorded in Q4 and the strong rates of growth seen since 2014 (0.9% q/q on average), according to Liz

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NZ GDP: Pausing at trend growth – TDS

New Zealand’s March quarter GDP rose by +0.5%/qtr, matching median expectations, to expand by 2.7%/y, notes Annette Beacher, Chief Asia-Pacific Macro Strategist at TDS. Key Quotes “The OIS strip remains flat at 1.75% throughout H2 this year, lifting to 24% priced for +25bp by end-Q1.”

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EUR/USD headed back to 1.1535/30 amid notable USD demand

Renewed USD strength and risk-on fuels the Asian decline. Bears look to re-test the 1.1535/30 support zone ahead of the US data. Having consolidated briefly around the 1.1575 region in early Asia, the EUR/USD pair came under fresh selling pressure, as the US dollar recovery