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EZ Data, EU FinMins' Meeting Up Today

EURJPY

EUR/JPY has shed 8 pips so far and last sits at Y130.08, holding yesterday's range so far. A break under Apr 8 low of Y129.57 would please bears, opening up Mar 30 low of Y129.13. Conversely, a break above Apr 7 high of Y130.69 (a bull trigger) would shift focus to the 1.236 proj of the Jun - Sep - Oct 2020 price swing at Y131.22.

  • German leading research institutes trimmed their joint GDP forecast to +3.7% Y/Y from +4.7%, owing to longer lockdowns. The 2022 forecast was revised to +3.9% Y/Y from +2.7%.
  • Italy's cabinet approved a new fiscal outlook Thursday. National debt-to-GDP ratio is expected to reach an all-time high of 159.8%.
  • A report by New Financial revealed that 440 financial firms decided to move at least some of their business from the UK to the EU after Brexit, which involved shifting around 7,400 jobs and $1.2tn of assets.
  • EZ trade balance & final CPI take focus on the European data docket today, while EU Finance Ministers hold an informal meeting online.

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