EUR/AUD, EUR/CAD, GBP/AUD, GBP/CAD uptrend resumptions
Both Euro and Sterling have made significant gains against Australian and Canadian Dollars this week, resuming medium-term uptrends in respective crosses. Overnight comments from a top ECB official suggest that a 50bps rate hike may be on the table for May policy meeting. Meanwhile, recent UK data underscores the necessity for BoE to extend its tightening measures in order to combat persistently high, double-digit inflation.On the other hand, there is no data supporting a shift from BoC's current pause in rate hikes. Australian dollar appears vulnerable ahead of tomorrow's crucial CP...
Source: actionforex.com
