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EUR/USD last seen at $1.1218, barely....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD last seen at $1.1218, barely changed on the day. This
occurs after the rate added 29 pips yesterday, supported by month-end dollar
weakness, as well as positive economic data from across the EZ. Spanish, Italian
& aggregate EZ GDP figures topped expectations, as did German CPI.
- The initial layer of resistance is provided by the 21-DMA at $1.1234. A breach
here would open up $1.1261/62, where the rate peaked on Apr 23/22. Conversely, a
descent through the Apr 5/4 low of $1.1210/06 would draw bearish attention to
the psychological $1.1200 mark, breached yesterday.
- EZ focus turns to m'fing PMI data from across the bloc and German retail
sales, expected on Thursday. EZ inflation data will follow on Friday. Elsewhere,
ECB's de Guindos will speak later tiday, Costa & Praet speak on Thursday, while
Enria will appear on Friday. Worth noting May Day holidays across the EZ will
keep many markets closed today.

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