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Forex: EUR/USD keeps the red after Italian, German auction

The single currency is testing session lows in the area of 1.3010/15 after Italy sold €6.993 billion in today’s auction vs. target of €7.25 billion, with the 3-year bond yields ticking higher to 2.48% vs. 2.30% previous. In addition, German auction of 2-year Notes yielded 0.06% vs. 0.21%.

No further data is expected in the euro area, while US retail sales would be in the limelight in the European afternoon.

At the moment, the cross is losing 0.10% at 1.3014 and a drop below 1.2980 (low Mar.11) would accelerate the decline to 1.2956 (low Mar.8) and then 1.2929 (low Dec.11).
On the upside, resistance levels align at 1.3075 (high Mar.12) ahead of 1.3128 (MA100d) and then 1.3135 (high Mar.8).

Forex: EUR/JPY pressured to 124.65

The EUR/JPY wasn't able to hold its price at the daily opening level and eased throughout the Asian session, finding support at 124.65 zone. This area continues to hold the cross against further downside, for now at least.
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Forex Flash: US February consumer spending and retail sales to improve – TD Securities

TD Securities analysts expect US February consumer spending to advance strongly and better than expected retail sales, as well: “The surge in gasoline prices should push total consumer spending up sharply in February, and we expect retail sales to rise at an above consensus 0.8% m/m”, wrote analyst Alvin Pontoh, looking for stronger autos to bolster the top line, and sales ex-autos are expected to rise at a slightly more modest 0.7% m/m pace (consensus 0.5%).
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