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European markets up, reports of joint statement on currency war soon

The German DAX 30 (+0.17%), the French CAC 40 (+0.76%), the Italian FTSE MIB (-0.20%) and the Spanish IBEX 35 (-0.35%). Volumes are low, the economic calendar is basically empty and not much headlines to trade on.

TD Securities analysts see space for markets to talk politics and currencies. “Weekend press suggests US and European officials are considering issuing a joint statement on currency devaluations with the large focus on the yen in recent months (and Venezuela announcing another devaluation (32%) of the bolivar over the weekend)”, wrote analyst Richard Kelly.

France published its December Industrial Output at +0.1% (MoM), instead of the -0.2% expected. Output had risen 0.5% in the prior month. Next will be Portugal Global Trade Balance.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a higher opening by +0.15% ahead of a NY session with an empty calendar, exception made to FOMC member Yellen speech at 18:00 GMT.

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The single currency seems to have left behind its post-Draghi depression, finding a bottom in the area around the mid 1.33s and is now looking to extend a bull attempt beyond the key resistance at 1.3400 ...
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Forex Flash: EUR/USD potential decline to 1.300 medium term – Rabobank

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