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Forex: EUR/USD keeps lows after EMU GDP

The shared currency is hovering over session lows in the vicinity of 1.3030/35 after the economic activity in the euro area came in in line with market consensus for Q4, contracting 0.6% inter-quarter and 0.9% over the last twelve m months.

No more data is now expected in the euro bloc, while the US docket would bring the ADP report, Factory Orders and the Fed’s Beige Book.

As of writing, the pair is down 0.13% at 1.3033
Next support levels line up at 1.3010 (low Mar.5) ahead of 1.2982 (low Mar.4) and then 1.2966 (2013 low Mar.1).
On the upside, a breakout of 1.3075 (high Mar.5) would expose 1.3085 (MA10d) and then 1.3101 (high Mar.1).

EMU: GDP falls 0.6% in Q4, as expected

On a quarterly basis Eurozone GDP decreased 0.6% in Q4, following a 0.1% drop registered the previous quarter, according to second estimates released today by Eurostat. This result is in line with market consensus.
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Forex: GBP/USD eases after BoE King's speech


The GBP/USD bearish trend went as low as 1.4986 on Friday, but the psychological level at 1.5000 pulled the pair for some consolidation. That corrective movement was capped by the 1.5200 mark yesterday. Today, the market is moving lower again and has already breached below the 1.5100 line as the London session unfolds.
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