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The Euro area is more about politics than macro data this week – JPM

FXstreet.com (Barcelona) - The economic calendar out the Eurozone will be active the next few days, with some important data due out which could have impact on the currency over the coming sessions. According to analysts at JP Morgan, “The most important releases are Euro area trade Monday, German Zew Tuesday and balance of payments Friday.”

They went on to add, “On Thursday, however, Italian parliamentarians will start the process of electing a successor to President Giorgio Napolitano. The conclave will require several days to conclude and it an important litmus test for the chambers’ ability to clear the uncertainties left by February elections. Note there is still no firm timeline for selecting Italy's next Prime Minister.”

Forex Flash: Gold has peaked, beginnings of a new chapter - RBS

Gold value evaporation from recent days should be seen as the beginning of a new chapter in gold, says Greg Gibbs, strategist at RBS, adding that "after the size of the fall in the past two days, we might expect a bounce, but the strategy now is to sell on rallies."
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Forex: EUR/USD holds above 1.3035

EUR/USD is currently at 1.3052, off session lows at 1.3030, and few pips shy of session highs at 1.3058. The pair has managed to hold above late NY weekly lows at 1.3020 following final selling pressure after the Boston bombing attacks, and above Friday's lows at 1.3036. EUR/USD is last down -0.47% for the week so far.
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