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Free AccessEUR/USD last $1.1296, virtually.........>
EURO-DOLLAR: EUR/USD last $1.1296, virtually unchanged on the day, after
climbing 34 pips Thursday, as the pair moved roughly in sync with broader USD
gyrations. - Yesterday saw the release of EZ GDP figures, which fell in line
with exp. at +0.2% Q/Q, while German GDP came in flat Q/Q, allowing the
Eurozone's largest economy to narrowly avoid a technical recession.
- It is worth mentioning Spanish PM Sanchez called an extraordinary cabinet
meeting for Friday morning. Many expect him to announce a snap election
afterwards.
- Bulls keep an eye on the 200-WMA & up trendline from Nov 12 at $1.1312, ahead
of the 200-HMA at $1.1335. Conversely, bears look for a break below the Feb 11
low of $1.1267 before challenging $1.1250, which represents yesterday's YTD low.
- EZ focus today turns to EZ trade balance, as well as remarks from ECB's Coeure
& Angeloni.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.