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The US dollar closed last week on a bearish note. Economic data on the day saw the release of the monthly import price data.
Monthly import prices advanced 0.6% on the month beating estimates of a 0.4% increase. The gains were spurred by an increase in fuel prices. For March, export prices rose 0.7% once again beating the estimates.
Euro Trades Higher as Industrial Production Rises
The monthly industrial production reports released on Friday saw industrial output falling 0.2% on the month. This was slightly better than the estimates pointing to a 0.5% decline. January’s data was revised higher to show a 1.9% increase compared to the initial reports of a 1.4% increase. Looking ahead today, the German Bundesbank will be releasing its monthly report.
Will EUR/USD Continue to Rise?
The common currency initially pared gains by Friday’s close but price action has since rebounded. The current upside momentum in t...
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