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GBP/USD: downside risks extending to the 1.31 area in the next few weeks - Scotiabank

Analysts at Scotiabank explained that Sterling has managed to grind steadily higher since Tuesday’s low near 1.32 and has progressed through minor trend resistance at 1.3310.

Key Quotes:

"A high close on the week will help relieve some of the recent pressure on the GBP but the broader trend in the market remains soft and the GBP is prone to weakness while the market remains below 1.3715, we feel."

"The break under here late last month implies downside risks extending to the 1.31 area in the next few weeks."

European equities fell, US allowed the waiver on metals tariffs to expire for most importers - Westpac

Analysts at Westpac explained that European equities fell despite an apparent agreement to form a government in Italy and noted that the US allowed th
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GDP tracking update: raised Q2 real GDP estimate by 0.3pp - Nomura

Analysts at Nomura offered their GDP tracking update as follows. Key Quotes: "The increase in personal consumption expenditure in April was slightly
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