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Forex: EUR/USD hovering over 1.3030/35

FXstreet.com (Barcelona) - The bloc currency is giving away overnight gains on Tuesday, falling from the proximity of 1.3070 to the current area of 1.3035/40 despite the positive data from the German trade balance. In fact, the trade surplus surprised investors widening to €17.1 billion in February vs. €15.1 billion forecasted and €15.6 billion previous. Exports contracted 1.5% while imports retreated 3.8%.

Next on tap in the euro are will be the French trade balance figures, with prior surveys expecting the trade deficit to narrow to €5.0 billion in February from €5.9 billion in the previous month.

At the moment, the cross is up 0.19% at 1.3036 with the next resistance at 1.3040 (high Apr.5) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the downside, a breach of 1.2918 (MA21d) would bring 1.2896 (MA200d) and finally 1.2868 (MA10d).

Germany: Trade surplus widens to €17.1B in Feb; Current Account surplus widens to €16B

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Germany: Trade surplus widens against expectations in February

German Trade surplus widened to €17.1 billion in February from €15.6 billion in January, according to data released today by Destatis. Analysts expected the surplus to narrow to €15.1 billion. German Current Account surplus widened to €16.0 billion in February, from €9.7 billion in January.
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