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Strong German Saxony/Spanish GDP........>

EURO-DOLLAR
EURO-DOLLAR: Strong German Saxony/Spanish GDP lifted to $1.1195, before
encountering strong headwinds ahead of $1.1200. A topside break is likely to
accelerate the move toward $1.1218/32 which represents the 50% retracement of
$1.1324-1.1112 & 21-dma. Last $1.1188.
- EU GDP is due up at 0900GMT. In the Eurozone overall, quarterly GDP is
expected to rise by 0.3% after 0.2% in Q4. A growth rate of 0.3% in Q1 would be
the highest reading since Q2 2018. Yearly GDP for the EZ in Q1 is expected to
remain at Q4's level of 1.1%. German CPI follows at 1200GMT.
- Also, a reminder that month-end bank models suggest moderate to strong USD
selling. SOMA day as well with $28.1bn rolling off.

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