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50-DMA capping EUR/USD upside
This morning will see an extensive amount of eurozone economic data that the currency markets will have to absorb. Although French manufacturing figures were weaker than expected, the negative sentiment has been quickly replaced following Germany’s better figures. Markets had been expecting German manufacturing to confirm growth with a 50.4 level, but it has come in much stronger at 51.2. At 10am the latest German ZEW economic sentiment data will give an indication of how the German analysts and investor feel.