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US data today key to confirm the growth recovery – TDS

FXStreet (Barcelona) - The TD Securities Team previews the key data releases in the US today, noting that April Philly Fed manufacturing index will be a key in confirming the direction of its Empire counterpart.

Key Quotes

“Following the less robust-than-expected performance of yesterday’s IP and Empire manufacturing reports, the April Philly Fed manufacturing index will be key in confirming the weaker direction of its Empire counterpart, and while we look for a rebound to 10.2 from 5.0, we highlight some downside risk to our forecast.”

“March housing starts and permits will also be closely watched as a potential gauge of weather impact, and we look for a 9.8% rebound to 985K in starts following last month’s enormous 17% collapse.”

“Permits are expected to fall 5.6% to 1040K, correcting following last month’s strong print.”

“On the speaker circuit, Fed’s Lockhart (neutral, voter) and Mester (hawk, non-voter) will make remarks.”

EUR/DKK to range-trade between 7.4440-7.4720 – Danske Bank

In the opinion of Jens Pedersen, Senior Analyst at Danske Bank, the cross would keep trading within the 7.4440-7.4720 range...
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Bunds: more upside potential towards 160.88 – RBS

Dmytro Bondar, Technical Analyst at RBS, sees further upside potential for Bund futures towards 160.88 in the near-term.
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