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Forex: EUR/NOK in multi-month highs above 7.5000

FXstreet.com (Barcelona) - The Norwegian krone is intensifying its depreciation against the shared currency following yesterday’s dovish statement by the Norges Bank, signalling that low interest rates would remain throughout the year. The decision weakened the NOK to levels above 7.50, last seen in July 2012

In the data space, Norway’s trade surplus widened in February to NOK 33.7 billion from NOK 33.5 billion.

At the moment, the cross is up 0.28% at 7.5557 with the next resistance at 7.5660 (high Jun.28) while supports line up at 7.4387 (low Mar.14) followed by 7.4275 (low Mar.13).

Forex Flash: Quarterly balance of payment stats showed decline in US dollar term deficit - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that yesterday, the release of the quarterly balance of payments statistics revealed a decline in the US current account deficit in dollar terms while the deficit in GDP terms was roughly unchanged at 2.8%.
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Eurogroup seeks reducing aid for Cyprus to 10 billion euros

This Friday the Eurozone Finance Ministers will try to establish the amount of the bailout for Cyprus. The country's government pushes for 17 billion euros but the Eurogroup wants to bring it down to 10 billion euros.
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