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Forex: EUR/USD around 1.3215/20 ahead of German GDP

The single currency is hovering the area if 1.3215/20 on Friday after a positive performance overnight, ahead of the final German Q4 GDP figures. Prior surveys expect the German economic activity to contract 0.6% inter-quarter.

The next significant release would be the IFO series in Germany, ahead of the Growth Forecasts by the European Commission.

As of writing, the cross is advancing 0.18% at 1.3214 with the next resistance at 1.3280 (Kijun line) ahead of 1.3367 (MA10d) and then 1.3440 (MA21d).
On the flipside, a breach of 1.3165 (76.4% of Jan-Feb rise) would expose 1.3039 (low Jan.10) and finally 1.3018 (low Jan.7).

Session Recap: RBA Stevens steals the show to the Japanese

As written in the headline, the Asian session was dominated by one name, and that is RBA Governor Glenn Stevens, who today, after testifying before the House of Representatives Standing Committee on Economics in Canberra, threw cold water to all the RBA cut calls, by sounding surprisingly less dovish-than-usual. He said a good deal of interest rate stimulus in pipeline, which is suggestive that rate cuts have been reduced enough for now.
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Germany: Gross Domestic Product s.a (QoQ) falls -0.6% in 4Q vs +0.2% in 3Q

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