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Forex: EUR/USD reluctant at 1.3000

Reluctance is the key word for the market movement as this week starts. The EUR/USD has been trading around the 1.3000 psychological level and between the 1.2980/1.3025 range as the market consolidates last week's moves, particularly Friday's plunge on the US nonfarm payrolls.

Italy GDP contracted -0.9% in Q4 (QoQ) as expected, but didn't actual annualized Q4 data came in at -2.8%, instead of the expected -2.7%, after the Q3 being revised lower from -2.7% to -2.8%. The Greek GDP improved from -6.9% to -5.7% in Q4 (YoY).

“The fact that the price rebounded from the minimum doesn’t mean it’s strong enough to make a reverse. I think today the pair may grow up a little bit to reach the level of 1.0335 and then reach a new minimum again, this time at 1.2940”, wrote Roboforex.com analyst Igor Sayadov, expecting then a reversal with targets at 1.3190 and 1.3400.

Greece: Gross Domestic Product n.s.a (YoY) (4Q): -5.7% vs -6.9% (3Q)

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Forex: GBP/USD tests 1.4900 mark

The GBP/USD used the London opening for easing purposes, fully retracing gains made to 1.4944 high. The pair went back to early lows and to the 1.4900 mark, where it is still quoting around.
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