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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The EURUSD first jumped 25 pips to 1.2807, before easing down to 1.2775 as the market digested the German Producer Price Index in October. Data disappointed by easing from 1.7% to 1.5%, with the monthly figure at 0.0%, instead of pointing to 0.1% growth.

As of writing, the pair quickly rallied to its highs at 1.2818 with reasons still unknown.

The French credit rating was downgraded by Moody's from Aaa to Aa1 right before the US session, but the market didn't stress much about it apart from a knee jerk reaction. The French Finance Minister defended that such downgrade doesn't change the country's economic fundamental's and government's reforms, adding his disagreement about the banking sector view.

Commerzbank analysts are open to a revisit of 1.2825 (11th of October low) and 1.2853 (resistance line) before coming off again: While the latter caps, the 1.2661 current November low will remain in view", wrote analyst Axel Rudolph.
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