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20 Mar 2013
Forex: EUR/USD muted after German PPI
FXstreet.com (Barcelona) - The shared currency posted no reaction after German producer Prices came in short of expectations on Wednesday, rising 1.2% over the last twelve months and contracting 0.1% MoM, vs. 1.5% and 0.2% expected, respectively.
After yesterday Parliamentary vote on the deposit-tax in Cyprus’s bailout, Cypriot officials would be now looking to Russia, although these are all unconfirmed rumours.
As of writing, the cross is up 0.14% at 1.2887 with the next hurdle at 1.2970 (high Mar.19) followed by 1.3009 (MA10d) and then 1.3074 (MA21d).
On the flip side, a breakdown of 1.2844 (low Mar.19) would expose 1.2827 (low Nov.22) and finally 1.2730 (low Nov.19).
After yesterday Parliamentary vote on the deposit-tax in Cyprus’s bailout, Cypriot officials would be now looking to Russia, although these are all unconfirmed rumours.
As of writing, the cross is up 0.14% at 1.2887 with the next hurdle at 1.2970 (high Mar.19) followed by 1.3009 (MA10d) and then 1.3074 (MA21d).
On the flip side, a breakdown of 1.2844 (low Mar.19) would expose 1.2827 (low Nov.22) and finally 1.2730 (low Nov.19).