Current Sentiment:
Producer Price Index from Australia was released during Asian trade, and printed below estimates at -0.2% versus 0.2% expected. Aussie has however shrugged off the loss on broad-based USD weakness. The pair has retraced 120 pips since the post-CPI lows, poking above the 50% retracement of the move lower. Given the nearly 60% chance of an RBA cut next Tuesday, the Aussie is at a tempting level to short.

ANZ Business Confidence from NZ printed at 6.2, above prior of 3.2. Kiwi rallied 35 pips during the session.

French GDP showed growth of half a percent for the first quarter, beating estimates of 0.4%. Euro has rallied 50 pips on the session, driven by USD weakness.

Yen has rallied further during Asian trade; USDJPY just above the 107 handle, down nearly 500 pips since pre-BoJ.

Ahead we have GDP and CPI from the Eurozone.

Trade Call:
Our trade call is to short AUDUSD from current price with at about 0.7840 and hold until after the RBA next week.

*New updates to the fundamental section will be left in bold for 24 hours*

USD: The Fed's April 27 statement failed to provide any further clarity on when the Bank may raise rates. There was no indication in the statement that a rate hike is likely in June, with Fed fund futures pricing a less than 20% chance of a hike at that meeting. CPI for March slightly missed estimates with Core dropping to 2.2% y/y from a prior of 2.3% and for the month, missing estimates at 0.1% versus 0 internetapotheke viagra.2% expected. Headline inflation also dropped from prior and missed estimates at 0.9% y/y. Employment figures for March were solid with 215,000 jobs added, a rise of 0.3% in Average Hourly Earnings, and an increase in Participation Rate to 63.0%.

EUR: A bearish currency fundamentally, however currently trading neutral following upside from Draghi's comments at the March meeting. CPI for March came in as expected for the headline at -0.1% y/y, but beat estimates for the core figure at 1.0% vs expectations of 0.9% and prior of 0.8%. On March 10, the ECB cut all three key interest rates and an increased QE by €20bn per month.

GBP: Fundamentally a slightly bullish currency, however market expectations regarding the UK's EU referendum will remain the primary driver of price action. Preliminary GDP for Q1 printed at 0.4% q/q as expected, however GDP y/y slightly beat expectations at 2.1% vs 2.0% expected. Average Weekly Earnings for February increased by 1.8%, below expectations of 2.3%, Claimant Count Change also missed expectations, increasing by 6,700 vs an expected decrease of 11,300. For the month of March, Core CPI m/m printed at 0.6%, double the expected 0.3%, and core y/y printed at 1.5% above expectations of 1.3%. Headline CPI also beat market expectations at 0.4% m/m and 0.5% y/y.

AUD: CPI for Q1 missed by a wide margin with Trimmed Mean CPI printing at 1.7% y/y, below expectation of 2.0%. This is well below the RBA's 2% target for inflation and hence greatly increases the chances of a cut at the May 3 meeting. This makes the AUD a bearish currency for now. Employment data for March beat estimates at 26.1K vs expected 18.0K for the Employment Change, whilst the Unemployment rate fell to 5.7% vs expectations of 5.9%.

NZD: The RBNZ kept rates on hold at the April 28 meeting, but maintain a strong easing bias which suggests another cut at the June meeting. Fundamentally a weak currency given the RBNZ's easing bias, however currently seeing upside for the same reasons as the AUD. CPI for Q1 slightly beat estimates at 0.2% q/q versus expectations of 0.1%. Year-over-year CPI matched estimates at 0.4%, well below the RBNZ's target mid-point of 2%. Excluding petrol prices, CPI rose 0.7% y/y.

CAD:  A neutral to weakly-bullish currency, with sentiment in lock-step with WTI. Core CPI for the month of March rose 0.7% versus an expectation of 0.3%. This puts year-over-year core inflation at 2.1%. Retail Sales Excluding Automobiles rose 0.2% for February, well above the expected half-percent decline. Solid data from Canada during April has erased any expectation of easing this year, for now.

JPY: The BoJ kept policy unchanged at the April 28 meeting, which saw massive strength in yen across the board, given the market pricing for a potential announcement of further easing. The BoJ may ease further at the next meeting on June 16. Tokyo CPI Ex-Food & Energy for April was at 0.6% y/y. The BoJ measure of National Core CPI remained steady in at 1.1% y/y for March.

CHF: Fundamentally a weak currency, highly correlated with moves in EUR. The franc is fundamentally a weak currency given the SNB's negative interest rates, however it can suddenly rally on safe-haven flows. The SNB regularly recite that the franc is overvalued and they are prepared to intervene to weaken the currency. The franc's direction is difficult to predict due to regular intervention by the SNB.

We will be monitoring levels of support and resistance in unison with any impactful news and the underlying fundamentals in order to find a high probability trade. Support and resistance includes previous highs and lows (horizontal s/r), trendlines, moving averages, fibonacci retracements, daily pivot levels and round numbers. These levels of support and resistance are most effective when there are several of them converging at the same area (confluence).

let's have coffee with a copThat was not his real name, and he was not really a member of any navy. He was just a man who figured out that a fancy uniform gets you through the door anywhere.. Her Golden Energy technique of healing grew from her interest and years of research of mind/body correlations to disease and healing. The result, Golden Energy, accomplishes all Wholesale Jerseys of the aspects needed to promote a total holistic healing experience. Patton was a controversial figure. He was a brilliant strategist who was too impatient. The two companies are reportedly in "crisis talks" over opposition to their planned merger. Gaming sector is on a track of consolidation as online firms look to partner up with traditional players. 'We are happy for the victory of the rule of law for our players and our fans. This court's hockey jerseys decision to overturn the NFL Commissioner again should signal to every NFL owner that collective bargaining is better than legal losses. Developed in Great Britain, Hawk Eye uses high speed cameras to detect when a ball crosses the goal line, almost identical to the systems it employs in Fake ray bans tennis and cricket. GoalRef, as described by its Germany based creators, uses an invisible magnetic curtain that hangs behind the crossbar and the goal line. "The improvements from last year to this year have been tremendous but he still has to consistently cheap jerseys demonstrate that he has gained a good understanding of what it takes to be successful at the quarterback position on this level. It goes well beyond the field. And by the time church comes 'round next week, cheap nfl jerseys they'll be over whatever was ailing them. We'd read them in secret, and then repeat their prayers back to them word for word while we laid hands on them. Glass bottom pool, Holiday Inn ShanghaiThe cantilevered pool at the Holiday Inn in Shanghai is not for the faint of heart. The pool is 1012m long and covers 8ha, with around 250 million litres of water pumped from the Pacific Ocean, then filtered and treated. Football player will Smith was killed in his car shot several times in the back. Now, as for the suspect in Mcknight's shooting police nfl jerseys cheap say they do expect to cheap China Jerseys file charges and, robin, he leaves behind a young son. "It has been determined that it is in Rob's best long term interest to undergo surgery to address his lower back injury," the statement said. "We do not expect that he will be able to play for the remainder of the 2016 season, but will await the results of (Friday's) surgery before making a final determination.".