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Morgan Stanley badysts give their point of view on EUR / USD pair, in light of recent Chinese trade figures and its positive impact on the euro.
Key quotes:
"The EURUSD bears have struggled to push the pair below 1.12.
Traders need to remember that the RMB plays a key role here and that sentiment is too bearish.
Especially when China's January trade figures far exceeded expectations.
China's export and import figures for January are well above market expectations (imports rose -1.5% vs. a consensus of -10.2%). "
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