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Forex: EUR/USD indifferent on EMU trade balance

Mute reaction of the shared currency after the EMU trade surplus narrowed to €11.7 billion during December from November’s €13 billion. The print missed expectations as well, at €13.1 billion. The cross thus remains in today’s comfort zone so far around 1.3335/40

Next on the US calendar would be the industrial production (+0.2% exp.) and the flash Reuters/Michigan Consumer Sentiment Index for February (74.8 exp.)

As of writing, the cross is losing 0.19% at 1.3336 with the immediate support at 1.3316 (low Feb.14) ahead of 1.3286 (low Jan.24) and then 1.3266 (MA55d).
On the upside, a breakout of 1.3415 (hourly high/lows Feb.14) would expose 1.3440 (MA21d) and finally 1.3456 (high Feb.14).

Forex Flash: BoJ’s hands tied? – UBS

The recent G7 meeting endorsed Japan's approach to kick-starting domestic economic growth. Bank of England Governor King on Wednesday made this clear: "What that statement means is that, when countries take measures to use monetary stimulus to support growth in their economy, then there will be exchange rate consequences and they should be allowed to flow through."
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Fundamental Morning Wrap: EUR, BoJ & Fed QE in focus

As the G20 meeting in Moscow kicks off, we have taken a look across institutional research and can see a few distinct (and unsurprising) themes at play; EUR, JPY and the Fed. There is a suspicion that the latest Euro dip is little more than a correction, but serious questions still need to be addressed in the region. Secondly, a new BoJ Governor looks set to be appointed and he may not be as radical as many had suspected. Finally, there is a growing belief that the US will look to gradually start scaling back its monetary easing during the year, providing that economic conditions
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