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Forex: EUR/USD posting highs after German trade data

The bloc currency is posting fresh session highs in the vicinity of 1.3020 on Monday after German trade surplus came in below expectations during January, falling to €15.7 billion from €16.9 billion in the previous month. The median was at €15.8 billion.

Next on tap would be French Industrial Output followed by Italian final GDP figures during the fourth quarter.

As of writing, the cross is up 0.16% at 1.3016 facing the next resistance at 1.3055 (MA200h) en route to 1.3135 (high Mar.8) and finally 1.3163 (high Feb.28).
On the flip side a breakdown of 1.2956 (low Mar.8) would open the door to 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).

Germany: Trade surplus narrows €15.7B in January

German Trade surplus narrowed to €15.7 billion in January from €16.9 billion in December, according to data released today by Destatis. Analysts expected the surplus to narrow to €15.8 billion. German Current Account surplus narrowed to €11.3 billion in January, from €20.2 billion in December.
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Asian markets mixed by Friday's US NFP and China's data

Asian equity indexes priced in Friday’s strong US non-farm payrolls, while having to count with ‘weaker than expected’ Chinese data released over the weekend. In Japan, machinery orders fell -13% in January, much worse than consensus of -1.7% and escalating diplomatic tension with North Korea wasn't enough to bring the South Korean index down.
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