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Forex: EUR/USD still close to lows after US data

FXstreet.com (Barcelona) - After a first move higher ahead of the European session, to 1.2877 high, the EUR/USD has been gradually losing value, on the release of the final reading of March manufacturing PMI and ahead of the NY opening, where it printed its current daily low at 1.2812.

US Economic optimism by IBD/TIPP came a little higher than expected, rising from 42.2 to 46.2 for the April report, beating the 46.1 consensus but still below the 50.0 threshold. A big drop on the ISM New York was seen in March as it eased from 58.8 to 51.2, remaining in an expansionary pace, though.

The monthly CPI in Germany came in at 0.5% (consensus of 0.4%) from 0.6% in the prior month, while the HICP came in at 0.4% (consensus of 0.3%), from 0.8%, and the annualized number unchanged at 1.8% (consensus at 1.7%).

“EUR/USD is bouncing within its underlying downtrend. An hourly resistance is at 1.2890 (26/03/2013 high). Another resistance can be found at 1.3048 (25/03/2013 high). An hourly support is at 1.2751 (27/03/2013 low)”, wrote MIG Bank analyst Bijoy Kar.

US: IBD/TIPP Economic Optimism rises to 46.2 in April

Economic optimism by IBD/TIPP came a little higher than expected, rising from 42.2 to 46.2 for the April report, beating the 46.1 consensus but still below the 50.0 threshold.
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American equity markets pare weekly losses

The US Stock managed to recover Tuesday after a definitively negative session yesterday. In the United States, the ISM New York Index (March) came in at 51.2, compared to a figure of 58.8 previously. Moreover, Factory Orders (MoM) grew +3.0% in March, against estimates of +2.9%.
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