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Forex: EUR/USD up, around 1.3040

The single currency is extending the overnight up-move, trading in the area of 1.3035/40 ahead of the opening bell in London.

In the data front, French Payrolls and inflation figures are next, followed by Spanish Consumer Prices.” Ahead of next week’s FOMC meeting, the US data focus is very much on Feb retail sales. Consensus is 0.5% total, 0.2% m/m ex-autos & gasoline; we see risks of a surprise to the topside, which should play positive for USD”, commented Sean Callow, analyst at Westpac.

At the moment, the cross is up 0.08% at 1.3039 with the next resistance at 1.3126 (MA100d) followed by 1.3135 (high Mar.8) and then 1.3163 (high Feb.28).
On the downside, a break below 1.2980 (low Mar.11) would expose 1.2956 (Mar.8) and finally 1.2929 (low Dec.11).

China's equities down on housing prices regulations, risk-off in Asia

Mainland China's Shanghai Composite fell -1.00% on reports that the city of Shenzhen has “banned developers from raising home prices”. Hong Kong's Hang Seng (-0.71%), India's Bombay Sensitive (-0.58%) and Japan's Nikkei Stock Average (-0.61%) followed the risk-off sentiment, like most equity indexes except for South Korea's Kospi (+0.32%).
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