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Forex: EUR/GBP jumps Friday's highs on Pound weakness

British Pound weakness is sending the EUR/GBP higher, off to Friday's highs (0.8743), but still quite far from February's peak of 0.8815. The cross has seen an upmove of almost 40 pips in the London morning, since the 0.8703 low.

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 German trade surplus eased from €16.9B to €15.7B as imports (+3.3% vs +1.0% consensus) rose more than exports (+1.4% vs +0.3% consensus) in January. French industrial output dropped -1.2% in January, instead of the +0.1% expected.

Mataf.net analysts point to resistance at 0.8740 and 0.8815, while supports might be seen at 0.8705, 0.8675 and 0.8630.

Forex: GBP/USD tumbles below 1.4900, at new lows

The GBP/USD breached below the 1.4900 level on London morning time, reaching Friday's spike low of 1.4887 and extending to even lower prices as the pair tumbles. This move is mostly GBP action.
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European indexes and US futures in risk-off on Italy downgrade and US budget

The German DAX 30 (-0.29%), the French CAC 40 (-0.46%), the Italian FTSE MIB (-0.91%) and the Spanish IBEX 35 (-1.61%) are falling on Monday, like most European equity indexes and US futures such as S&P 500 (-0.13%), Nasdaq 100 (-0.20%) and Dow Jones (-0.11%).
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