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Forex: EUR/NOK above 7.6300 after Norway data

FXstreet.com (Barcelona) - The Norwegian krone is losing ground against the single currency on Tuesday after mixed results from the Nordic economy. In fact, retail sales rose 0.2% during March from 0.5% in the previous month and contracted 3.5% over the last twelve months. In another direction, the unemployment rate fell to 3.5% during February, bettering forecasts and January’s print at 3.6%.

At the moment, the pair is up 0.20% at 7.6308 with the next resistance at 7.7025 (high Apr.24) ahead of 7.7150 (high Jan.18) and finally 7.7209 (high Jan.13).
On the flip side, a breakdown of 7.5985 (low Apr.29) would bring 7.5702 (50% 7.4380-7.7024) and then 7.5695 (MA100w).

EMU: Annual inflation down to 1.2% in April

On an annual basis Eurozone CPI rose 1.2% in April, down from 1.7% registered the previous month, according to data released today by Eurostat. Market consensus pointed to 1.6% growth. This is the lowest result since February 2010, when CPI stood at 0.9%.
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Forex: EUR/USD bounces after EMU CPI

The EUR/USD felt pressured ahead of EMU CPI and unemployment rate, easing all the way to 1.3056 low. Once data was released, the pair bounced and is already near 1.3080. The preliminary publication of EMU CPI indicates a lower than expected figure in April, at 1.2% instead of 1.6%, and coming from 1.7%. The unemployment rate in the Eurozone rose from 12.0% to 12.1% in March, as expected.
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