Forex: EUR/USD at highs after Italy's PPI

The greenback is pulling back a little, allowing risk sentiment to push the EUR/USD higher again. The market has returned above 1.3000 and is facing interim resistance at 1.3030 during the European session. Italy's Producer Price Index has already been released, down by -0.4% (MoM) in January. The annualized figure eased from 1.8% to 0.7%, instead of staying unchanged as expected.

French imports narrowed from €43.044B to €42.597B in January and exports also eased, from €37.626B to €36.735B, leaving the trade deficit widening from €-5.4B to €-5.9B, instead of narrowing to €-4.8B as expected.

Mataf.net analysts point to resistance at 1.3025 and 1.3070. On the downside, supports might be found at 1.2965, 1.2930 and 1.2875.