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Forex: EUR/USD falls further on ECB Constancio words

Investors are pricing bad news for the EUR since early in the European morning, starting with French and Germany worse than expected flash GDP Q4, followed by the ECB monthly report that blames the stronger EUR as a downside risk for inflation, and then the EMU GDP Q4 also pointing to a wider recession than consensus.

ECB Constancio's speech has triggered more downside after saying that negative interest rates is an option for monetary policy. The EUR/USD fall is now being buoyed by 1.3320/30 zone, with a daily low printed at 1.3319.

"A reversal has been confirmed at 1.3520 after yesterday's break below 1.3438 and my outlook here is negative, for a slide towards 1.3260 major support area", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to key intraday resistance at 1.3425.

Forex Flash: Will the G20 offer clarity or confusion? – UBS

“After this week's G7 hoopla and lingering confusion, markets will be looking to see if the G20 can perhaps offer more clarity. Unfortunately, a larger club has typically been even less likely to produce a consensus, let alone on issues as incendiary as the recent monetary dilemmas.” warns Research Analyst Gareth Berry at UBS.
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Forex: EUR/JPY erasing weekly gains

The EUR/JPY continues extending lower as the European session unfolds and the market digests wider than expected recession figures in Europe and the ECB's availability to discuss the option of negative interest rates as monetary policy.
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