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European markets rise ahead of more G20/IMF meeting and Italian Presidential election

FXstreet.com (Barcelona) - The German DAX 30 (+0.53%), the French CAC 40 (+1.63%), the Italian FTSE MIB (+2.24%) and the British FTSE 100 (+0.71%) are edging higher on Friday, as a hard week comes to an end with a G20/IMF meeting under way, focused on monetary policy and fiscal targets. The Presidential election in Italy is also being eyed. PD’s Bersani proposed Romano Prodi as president after seeing his previous candidate, Franco Marini, being rejected by his own party.

German PPI fell -0.2% (consensus of 0.0%) and annualized data eased from 1.2% to 0.4% (consensus of 0.7%). EMU current account surprised positively, with a wider seasonally adjusted surplus from €13.8B to €16.3B in February, beating expectations of €15.0B, and n.s.a. data at €12.1B instead of the €1.3B consensus. Italy industrial orders fell -2.5% (MoM) and from -3.3% to -7.9% (YoY), while industrial sales contracted -4.7% (MoM).

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a higher opening by +0.63% ahead of an empty calendar.

Forex: USD/CHF testing the 0.9300 barrier

The USD/CHF has traded sideways at the 0.9300 barrier in recent moments during European trading Friday. Having tested this barrier, also its first calculated support, the cross is now incurring a loss of -0.26% at the time of writing.
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Forex: EUR/CAD above 1.3400 ahead of Canada CPI

After a first drop to 1.3368 low after the European opening, rising demand brought the cross back and above the 1.3400 handle, pricing at its highs currently, at 1.3412. Investors are looking ahead to the Canada CPI report, published at 12:30 GMT.
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