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EUR/USD is barely changed at $1.1344....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD is barely changed at $1.1344. The pair added 30 pips
yesterday, as broader USD weakness came to the fore in the NY session on the
back of cautious Fed rhetoric & a BBG report surrounding the yuan.
- Rate came under some modest pressure early Tuesday on weak Italian industrial
orders figures and the latest German ZEW survey, which undershot expectations.
- Elsewhere, ECB's de Guindos & Praet spoke yesterday. Both mentioned the Bank's
attitude towards the current EZ's economic slowdown.
- Bulls look fo a break above $1.1365, which represents the 21-DMA. This would
allow them to target the 55-DMA/50-DMA at $1.1387/90. Conversely, bears keep an
eye on the 50-MMA/200-WMA at $1.1314, which is followed by the 200-HMA/100-HMA
at $1.1304/00.
- EZ focus this week turns to flash EZ PMI data & ECB Jan meeting minutes due
Thursday, as well as EZ CPI & German IFO due Friday. Elsewhere, there is plenty
of ECB rhetoric scheduled for this week, with ECB's Praet set to speak today.

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