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Thursday, 28 March 2013

EUR/USD Falls to Support on weak German employment data


After the euro was unable to climb on positive data from Germany, it now falls towards the 1.2750 support line on weak German data: the number of unemployed people rose by 13K, contrary to expectations for a drop of 2K. The unemployment rate remains at 6.9%.EURUSD Lower as the number of uenmployed people in Germany rises by 13K March 28 2013
The opening of banks in Cyprus is awaited.
EUR/USD made an attempt to rise above 1.2805 beforehand, climbing up from support at 1.2750. A strong retail sales figure from Germany helped, but wasn’t enough to make the break.
After this figure, the pair is falling. Banks in Cyprus are scheduled to open at 10:00 GMT, and capital controls have been imposed to prevent a bank run.

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