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The U.S. dollar recovered its morning losses after the publication of the better-than expected U.S. housing market data. The National Association of Realtors published existing-home sales in the USA. Sales of previously owned homes declined 0.2 percent to a seasonally adjusted annual rate of 4.59 million in March from 4.60 million in February. The projected value was 4.57 million.
Richmond Fed Manufacturing Index was better than expected. The figure was 7 in April (forecast: 0).
The euro declined against the U.S. dollar because of the better-than expected U.S. economic figures. The better-than-expected consumer confidence in the EU had no influence on the euro.
The Canadian dollar was weaker against the U.S. dollar, despite the better-than-expected wholesale sales in Canada. Wholesale sales climbed 1.1% in February (forecast: 0.7%).The Australian dollar increased against the most major currencies while the markets are awaiting the inflation data publication tomorrow. There is speculation that the Reserve Bank of Australia could raise interest rates. The forecast for the Australian annual inflation in the first quarter of the year is 3.2%, the highest rise in over two years. This figure exceeds the inflation target of the Reserve Bank of Australia (target: 2-3%).
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