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Data wise, the EUR was unable to gain any......>

EURO
EURO: Data wise, the EUR was unable to gain any support from the German releases
this morning. While the German March trade balance was better than expected, the
mix of weaker exports and declining imports is likely to be taken as a negative.
The Industrial production surprised positively for March, but the revisions to
the previous month more than wipe out this months gains. Overall, European data
releases are currently surprising negatively across all sectors of the economy.
EURUSD continues to press lower to new lows for the year, with major channel
support at 1.1801 likely the next target.

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