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German Industrial production rises above forecasts- EUR/USD unmoved

The latest German industrial production data has just been released and it was better than forecast. It rose by 2.1% in February. The markets had expected just a 0.5% increase. The trade balance did show a contraction at the same time, mostly due to an increase in imports. However, experts did fall at the same time. The EUR/USD has not reacted to this data, which is not that usual though. On Friday the EUR/USD did fall below 1.0800 after the release of those blow-out US jobs numbers. The low seen was set at 1.0791. However, it did not stay down there for very long and the rebound that followed saw it lift back above 1.0840. The Euro later closed the week in the US at 1.0837. The fact that it rebounded at all was rather perplexing . There will be much more to add on this, with the ECB monetary policy decision falling due this week. The range seen so far today has been covered by 1.0823 to 1.0844. The EUR/USD is currently trading at 1.0836

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