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Forex: EUR/USD indifferent on Italian CPI

FXstreet.com (Barcelona) - Italian Consumer Prices followed its peers on Tuesday, rising 1.4% on a yearly basis, lower than March’s 1.6% albeit surpassing expectations at 1.2%.

While waiting for the Spanish auctions, the analyst at Danske Bank S.Roed-Frederiksen commented, “Pricing of an earlier Fed asset purchase reduction has shifted risks more to the downside but it will likely take a break of recent US bond yield ranges to trigger more pronounced near-term dollar strength, as still overall positive European peripheral bond sentiment is working to counteract dollar-positive impulses”.

At the moment, the pair is up 0.19% at 1.3001 and a break above 1.3051 (high May 10) would open the door to 1.3065 (MA21d) and finally 1.3148 (MA100d).
On the flip side, support levels align at 1.2936 (61.8% of 1.2747-1.3243) followed by 1.2935 (low May 10) and then 1.2850 (76.4% of Apr. range).

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Following the release in India’s key inflation reports, Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities notes the impact on economic growth
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Forex: USD/CHF trading negatively at 0.9545/46

The USD/CHF has traded off its European highs of 0.9550 Tuesday, engaging in sideways trading recently following an absence of market drivers. Indeed, the cross has found itself stumbling to the tune of a -0.34% loss in these moments, unable to get any prolonged recovery going despite recently trading at 0.9545/46.
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