Forex: EUR/USD hovering over 1.3065/70

FXstreet.com (Barcelona) - The bloc currency remained indifferent after German Producer Prices came in below expectations, contracting 0.2% on a monthly basis and rising 0.4 over the last twelve months, vs. 0.0% and 0.7% forecasted, respectively.

The G20 meeting remains the main event ahead of the IMF gathering over the weekend, although there were no relevant announcements so far. In addition, Italian policymakers did not come to an agreement to appoint another President, let alone any other form of government so far. Events in Italy would extend over the weekend.

At the moment, the cross is up 0.13% at 13068 with the next resistance at 1.3202 (high Apr.16) followed by 1.3229 (50% of Feb.-Apr. slide) and finally 1.3319 (high Feb.25).
On the flip side, a breach of 1.3001 (low Apr.17) would expose 1.2963 (low Apr.8) en route to 1.2959 (MA21d).

Apr 19, 2013

Germany: Annual Producer Price Index rises less than expected in March

The German PPI increased 0.4% in March, after growing 1.2% in February, according to data released today by Destatis. Market consensus pointed to a 0.7% rise.

Asian markets up on Friday as G20 meeting resumes

Demand grew on Friday, allowing gains on Mainland China’s Shanghai Composite (+2.20%), Hong Kong’s Hang Seng (+1.54%), South Korea’s Kospi (+0.33%), India’s Bombay Sensitive (+1.52%) and Japan’s Nikkei Stock Average (+0.76%). With a particularly empty economic calendar during the Asian session, investors have headlines from the G20 meeting to trade to. In regard to talks about the BoJ and its monetary policy, it’s been reported that “Japan faced no opposition at G20 to its message that its monetary policy is aimed at beating deflation”, according to Japan finance minister Aso.