Mid-Day Report: Forex Markets Remain Steady in Consolidation

[Forex-Outlook]

While global stocks continue tumbling, the forex markets remain relatively steady. Some renewed buying is seen in Yen into US session but major yen crosses are stuck in range so far. Canadian dollar is also steady after solid economic data. Canadian CPI rose 0.3% mom, 1.8% yoy in April, above expectation of 0.2% mom, 1.7% yoy. Core CPI also beat expectation by rising 0.3% mom, 1.9% yoy. Retail sales rose much more than expected by 2.1% mom in March with ex-auto sales rose 1.7% mom.

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