RECENT CAD RETREAT will not be helped by todays CAN data, which showed CAN Q1 GDP +0.3% from +0.6% (lowest since Aug 2009) and March PPI -0.4% due to loonie strength. Still looking for 1.0080 in USDCAD while EURUSD needs to show more convincing break of $1.3330 to call up $1.3380-90. US Q1 GDP at 3.2% on soft side but consumer expenditure rose to 3.6% (highest since Q1 07). GOLD EXTENDS GAINS across the board, eyeing next resistance at 1181, which is the 76% retracement of the 1225-1044 decline. The yellow the metalis aided by the risk bounce, which is boosting commodities, as well as lingering worries about Greece. GOLD SURGES TO ANOTHER NEW RECORD HIGH vs YEN.
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