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The lack of Brexit news limits the GBP near term gains

USD index in recovery move after the Easter holidays with the higher US stock leading better risk sentiment turning effect. UST yield remains gradually lower and flattering yield curve still cloud the near term risk sentiment. USDJPY and JPY cross higher in Asian session on the effect of further trend continuation.

GBP hold above 1.4000-20 which driven some short covering but fresh selling above 1.41 will limit the near term gains with lack of Brexit news but GBP mostly follows the broad USD direction.

EUR lowering on some EUR cross selling but recent support is at around 1.22 and a 1.2240-50 will see more demand on broad bullish medium term trend.

Today the Eurozone unemployment rate, CPI, UK construction PMI, US ADP Employment Change, Services and Composite PMI, ISM non-manufacturing PMI, Factory Orders, Durable Goods Orders and stock/bond market move will dominate the intraday action.

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    Research Risk Warning

    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.