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Forex: EUR/USD indifferent after EMU, Italy data

The shared currency kept the apathy after the Business Confidence in Italy improved to 88.5 for the month of February from 88.3 and 88.2 expected. Further releases in the euro are showed that Private Loans contracted 0.9% on a yearly basis, missing expectations at -0.6% while the M3 Money Supply rose 3.5% in a year to January.

Ahead in the day, market participant are eagerly waiting for the Italian auction of 5-year and 10-year bonds.

At the moment, the cross is up 0.09% at 1.3073 and a break above of 1.3125 (MA100d) would bring 1.3319 (high Feb.25) and then 1.3371 (MA21d).
On the flipside, a breakdown of 1.3019 (low Feb.26) would aim for 1.2998 (low Jan.4) and finally 1.2996 (low Dec.12).

Forex Flash: Italian auctions a major hurdle for bond and FX markets - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that today´s 5yr tap and sale of a new 10yr BTP in Italy (at 10:00a.m GMT) is a major hurdle for both bond and currency markets.
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Forex: EUR/JPY pressured after EMU money supply

The EUR/JPY is dropping on the release of EMU money supply data, moving below 120.00 and currently at 119.80 (-0.30% on the day). Following Monday's plunge, the cross remains entrenched between 119.00 and 121.00, finding harmony around 120.00.
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