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30 May 2013
EUR/USD in highs around 1.2975/80
FXstreet.com (Barcelona) - The single currency is posting fresh highs on Thursday, climbing to the area of 1.2975/80 ahead of the Spanish GDP results.
Prior surveys expect the economic activity in Spain to have contracted 0.5% inter-quarter and 2.0% on a yearly basis during the first quarter vs. previous prints at -0.8% and -1.9%, respectively. Further results in the euro area will see the EMU’s Economic/Consumer/Services Sentiment ahead of the Italian auction of bonds maturing in 5 and 10 years.
The pair is now advancing 0.25% at 1.2974 with the next resistance at 1.2994 (high May 24) and then 1.2998 (high May 22). On the downside, a drop beyond 1.2821 (low May 23) would clear the way to 1.2809 (low May 20) en route to 1.2796 (low May 17).
Prior surveys expect the economic activity in Spain to have contracted 0.5% inter-quarter and 2.0% on a yearly basis during the first quarter vs. previous prints at -0.8% and -1.9%, respectively. Further results in the euro area will see the EMU’s Economic/Consumer/Services Sentiment ahead of the Italian auction of bonds maturing in 5 and 10 years.
The pair is now advancing 0.25% at 1.2974 with the next resistance at 1.2994 (high May 24) and then 1.2998 (high May 22). On the downside, a drop beyond 1.2821 (low May 23) would clear the way to 1.2809 (low May 20) en route to 1.2796 (low May 17).