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Forex: EUR/USD climbed to 1.2920 after US data

FXstreet.com (Barcelona) - The single currency is now posting gains after the softer than expected consumer prices in the US economy during March, posting an annual increment of 1.1% vs. 1.3% expected. Core prices also came in below forecasts at 1.7% vs. 1.8%.

Further data showed mixed results from housing starts and building permits while initial claims unexpectedly rose to 360K in the week ended on May 14 vs. 328K in the previous reading.

At the moment the cross is up 0.03% at 1.2902 with the next resistance at 1.2943 (high May 15) and then 1.3002 (MA30d).
On the flip side, a break below 1.2843 (low May 15) would open the door to the psychological mark at 1.2800 and finally 1.2740 (2013 low Apr.14).

Forex Flash: AUD/USD strategy profile – Westpac

The local calendar offers limited distraction from the global USD mood. The RBA May meeting minutes (Tue) should provide little new given the SoMP released in the meantime. May Westpac-MI consumer sentiment (Wed) will provide the public reaction to both the rate cut and the federal budget, which was widely seen as lacking in “goodies” despite the Sep election.
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Forex Flash: EUR weakens modestly post EU GDP - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro weakened modestly recently following the weaker than expected euro-zone Q1 GDP report which further reinforced expectations that the ECB may have to ease monetary policy further ahead to support growth should recessionary conditions continue to prove more prolonged than expected.
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