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21 May 2013
EUR/USD around 1.2890 ahead of German data
FXstreet.com (Barcelona) - The single currency is posting meager gains against the buck on Tuesday, ahead of German Producer Prices due later.
Prior surveys expect prices to rise at an annual pace of 0.2% in April, lower that March’s 0.4%. On a monthly basis, prices are expected to contract 0.1% vs. -0.2% previous.
Continuing with the euro docket, Spain will sell 3m and 9m Letras, in another attempt to follow the recent downtrend in yields.
At the moment the cross is up 0.05% at 1.2889 with the next resistance at 1.2930 (high May 16) ahead of 1.2943 (high May 15).
On the flip side, support levels align at 1.2796 (low May 17) followed by 1.2740 (2013 low Apr.4) and finally the psychological mark at 1.2700.
Prior surveys expect prices to rise at an annual pace of 0.2% in April, lower that March’s 0.4%. On a monthly basis, prices are expected to contract 0.1% vs. -0.2% previous.
Continuing with the euro docket, Spain will sell 3m and 9m Letras, in another attempt to follow the recent downtrend in yields.
At the moment the cross is up 0.05% at 1.2889 with the next resistance at 1.2930 (high May 16) ahead of 1.2943 (high May 15).
On the flip side, support levels align at 1.2796 (low May 17) followed by 1.2740 (2013 low Apr.4) and finally the psychological mark at 1.2700.