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Forex: EUR/USD working the 1.3400 handle

After plunging down to 1.3360 low to get ready for the US trade balance data, the EUR/USD allowed itself to bounce back to the 1.3400 psychological level, thus erasing its daily losses. The pair is currently quoting around the handle ahead of US Wholesale Inventories.

The US trade deficit was narrowed from $-48.61B to $-38.54B in December, beating market consensus of $-46.00B. US wholesale inventories are expected to rise +0.4% in December, less than November's +0.6%.

Mataf.net analysts point to resistance at 1.3430, 1.3475 and 1.3575. On the downside, supports might be found at 1.3370, 1.3315 and 1.3270.

American equity markets open positively Friday

The US Stock market experienced a slightly positive opening Friday after the publication of economic data in the United States. In the US, the Trade Balance (December) came in at S-38.54B, much less than estimates calling for S-45.8B.
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Forex Flash: USD/JPY with best reversal signal now – TD Securities

The reason behind JPY's rebound today was Japan's Finance Minister comment that the government wasn't antecipating an exchange rate depreciation at such rapid pace. "It’s unclear whether these headlines were taken out of context— especially considering the seemingly conflicting comments from other Japanese officials recently—but it could also be a case of managing the reception to Japanese policy action at the upcoming G20 meeting", wrote analysts Shaun Osborne, adding that a correction lower was expected for several weeks now.
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