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Forex: EUR/USD rebounds after EMU trade data

FXstreet.com (Barcelona) - The single currency regained the area around 1.3075/80 after the trade surplus in the euro area for the month of February widened to €10.4 billion from January’s deficit of €4.7 billion (revised).

Greg Gibbs, FX Trading Strategist at RBS, commented, “Political and fiscal pressures in Europe will remain high if the recovery is too slow to get growth in the region back towards potential. Over time, persistently high unemployment may become a bigger issue. But for now crisis fears and stress in European capital markets is low. This may help keep EUR stable for the near term”.

The pair is now down 0.32% at 1.3074.
Next support levels line up at 1.3036 (low Apr.12) followed by 1.3006 (low Apr.9) and then 1.2980 (MA10d).
On the upside, a break above 1.3138 (high Apr.11) would bring 1.3140 (MA55d) and finally 1.3150 (MA100d).

Forex: EUR/AUD above 1.2550 after EMU trade balance

The EUR/AUD made a 100-pip jump to 1.2550 high on China’s disappointing GDP and industrial production figures which put pressure on a commodity currency such as the Aussie. After a profit taking move to 1.2513, the cross is back at its highs and looking for an extension on the publication of EMU trade balance data. The seasonally adjusted trade surplus widened from €9.0B to €12B in February, beating the €9.9B consensus, while the non-seasonally adjusted figure moved from €-4.7B (revised from €-3.9B) to €10.4B, coming higher than the €3.0B consensus.
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Forex: EUR/CAD higher on risk-off mood

The publication of weakening GDP and industrial production data in China set off an up move above 1.3300 during the Asian session in a risk-off mood. The release of EMU trade balance data allowed the EUR/CAD to score further gains on the day, reaching as high as 1.3356.
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