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Forex: EUR/USD around 1.2880/85 ahead of German data

FXstreet.com (Barcelona) - The single currency is orbiting around 1.2880/85 on Wednesday, ahead of the German Producer Prices due next. Prior surveys expect prices to rise 1.5% annually and 0.2% on a monthly basis in February, lower than January’s 1.7% and 0.8%, respectively.

There is no news in the Cyprus’s front after the Parliament yesterday rejected the levy on deposits, opening the door for another period of uncertainty.

The cross is now up 0.13% at 1.2885 with the next resistance at 1.2970 (high Mar.19) followed by 1.3009 (MA10d) and then 1.3074 (MA21d).
On the flip side, a breakdown of 1.2844 (low Mar.19) would expose 1.2827 (low Nov.22) and finally 1.2730 (low Nov.19).

Forex: GBP/USD below 1.5100 ahead of a very very busy day

Cable is last at 1.5085, testing the lower bound of current weekly range with Monday lows at 1.5070, off session lows at 1.5078, and the upside limited at three times touched ask line 1.5145. The pair is facing a very busy London session ahead, with key UK unemployment data and BoE minutes at 09:30 GMT, followed by UK Annual budget release at 12:30 GMT, not to mention FOMC statement at 18:00 GMT and press conference 30 minutes later.
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Germany: Producer Price Index (YoY) up 1.2% in Feb; (MoM) falls 0.1%

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