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4 Mar 2013
Forex: EUR/GBP supported around 0.8630
Today's downside is stalling at 0.8630 surrounding area that is offering support against an extended drop. The EUR/GBP was trading sideways during Asian time but then started moving increasingly lower, eager to retrace Friday's gains.
The UK PMI Construction dropped from 48.7 to 46.8 in February, instead of rising to 49.0 as expected by analysts.
January Producer Price Index in the Eurozone rose 0.6%, beating 0.5% consensus, while the annualized data eased from 2.1% to 1.9%, as expected. The EMU Sentix Investor Confidence for March fell more than predicted, from -3.9 to -10.6, while consensus was pointing to -5.2.
Mataf.net analysts point to resistances at 0.8655, 0.8685 and 0.8710, while supports are at 0.8630, 0.8605 and 0.8575.
The UK PMI Construction dropped from 48.7 to 46.8 in February, instead of rising to 49.0 as expected by analysts.
January Producer Price Index in the Eurozone rose 0.6%, beating 0.5% consensus, while the annualized data eased from 2.1% to 1.9%, as expected. The EMU Sentix Investor Confidence for March fell more than predicted, from -3.9 to -10.6, while consensus was pointing to -5.2.
Mataf.net analysts point to resistances at 0.8655, 0.8685 and 0.8710, while supports are at 0.8630, 0.8605 and 0.8575.