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Forex: EUR/USD muted after German inflation

FXstreet.com (Barcelona) - The shared currency attempted a rebound to 1.3080 soon after German Consumer Prices rose 0.5% MoM and 1.4% YoY, in line with market expectations. The bounce however probed to be short-lived, as the pair soon retreated around 1.3065/70.

Next on tap in the euro area will be the French CPI ahead of the ECB Monthly Report and a 3-year bond auction in Italy.

At the moment the cross is down 0.02% at 1.3067 with the immediate support at 1.3006 (low Apr.9) ahead of 1.2963 (low Apr.8) and finally 1.2928 (MA10d).
On the upside, a breach of 1.3135 (high Mar.8) would expose 1.3163 (high Feb.28) and then 1.3229 (50% of Feb-Apr slide).

Germany: Annual CPI climbs 1.4% in March

According to data released today by Destatis, German annual inflation rose 1.4% in March, down from the 1.5% rise registered the previous month. This result is in line with analysts' forecasts. On a monthly basis German CPI increased 0.5% in March, after sliding 0.6% in February, as expected.
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Forex: GBP/USD sidelined around 1.5330

The sterling is consolidating around 1.5330 on Thursday, keeping the upside after Wednesday’s lows in the proximities of 1.5290...
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