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Forex: EUR/USD above 1.2800, ECB eyed

FXstreet.com (Barcelona) - The single currency keeps the 1.2800 handle on Monday, ahead of the ECB meeting due later in the week, with market consensus expecting the bank commanded by M.Draghi to leave the refi rate intact at 0.75%.

Elwin de Groot, Analyst at Raboban, comments “Whilst the recent deprecation of the euro could provide some fresh support for the Eurozone manufacturing and export sector going forward, recent developments in Cyprus may put another dent in confidence among businesses and households in the near-term. As such, the economic recovery process is likely to remain painstakingly slow in the months ahead, if there is any recovery at all”.

As of writing, the pair is up 0.08% at 1.2817 facing the next hurdle at 1.2884 (MA200d) followed by 1.3050 (high Mar.25) and then 1.3163 (high Feb.28).
On the other hand, a breach of 1.2751 (low Mar.27) would bring 1.2730 (low Nov.19).

Forex: USD/JPY bounces to 93.70/75 ahead of US data

Corrective movements of the Yen ahead of BoJ meeting this week and the Chinese manufacturing PMI, as well as risk-off sentiment due to Cyprus, pulled the USD/JPY down to 93.28 low on the European opening. The market was able to retrace part of those losses back to 93.70/75 area, where it is currently sitting on ahead of US data.
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Forex: NZD/USD sideways trading at 0.8365/68

The NZD/USD has engaged in sideways trading Monday during a heavily muted session. Having moved in a narrow 26-pip range (0.8352 – 0.8378), the cross is now settling in the 0.8365/68 region, recording marginal gains in these moments.
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