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11 Mar 2013
Forex: EUR/GBP jumps Friday's highs on Pound weakness
British Pound weakness is sending the EUR/GBP higher, off to Friday's highs (0.8743), but still quite far from February's peak of 0.8815. The cross has seen an upmove of almost 40 pips in the London morning, since the 0.8703 low.
Italy GDP contracted -0.9% in Q4 (QoQ) as expected, but didn't actual annualized Q4 data came in at -2.8%, instead of the expected -2.7%, after the Q3 being revised lower from -2.7% to -2.8%.
The German trade surplus eased from €16.9B to €15.7B as imports (+3.3% vs +1.0% consensus) rose more than exports (+1.4% vs +0.3% consensus) in January. French industrial output dropped -1.2% in January, instead of the +0.1% expected.
Mataf.net analysts point to resistance at 0.8740 and 0.8815, while supports might be seen at 0.8705, 0.8675 and 0.8630.
Italy GDP contracted -0.9% in Q4 (QoQ) as expected, but didn't actual annualized Q4 data came in at -2.8%, instead of the expected -2.7%, after the Q3 being revised lower from -2.7% to -2.8%.
The German trade surplus eased from €16.9B to €15.7B as imports (+3.3% vs +1.0% consensus) rose more than exports (+1.4% vs +0.3% consensus) in January. French industrial output dropped -1.2% in January, instead of the +0.1% expected.
Mataf.net analysts point to resistance at 0.8740 and 0.8815, while supports might be seen at 0.8705, 0.8675 and 0.8630.