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Immediately following the release of the latest German sales and factory orders data an update here noted the EUR/USD should react negatively to all that data. Well, initially the downside move was pretty laboured and despite now falling further as envisaged, it still is. The EUR/USD has dropped below 1.0335 and hit a session low so far at 1.0322. It is not much above that low right now, but at the same time, there is no denying the downside is hard fought it seems. US yields are edging a little higher right now and that is adding to the pressure. The lower Euro is seemingly helping the DAX though, but in truth given that data this does not make much sense. However, when did it ever? Anyway the DAX is now close to the high seen yesterday, at 20,391 and it seems someone wants to keep pushing this higher for the time being, as non-sensical as that might seem. The EUR/USD is currently trading at 1.0327. Will it trade lower from here? Well, there is not much of a reason right now for it to not to
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