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New Zealand is not saying no to directly monetizing its debt; the U.S. is banning immigrants (even legal ones!), and a dictator’s health may or may not be in “grave danger.”

And that was just today’s Asian session!

As lively as the last couple of hours were for comdoll traders, though, I have a feeling that focus will soon turn to the European currencies.

But first, let’s take a look at the major headlines so far today:

Currency Snapshot:

Major Forex Pairs Price Performance from MarketMilk
Major Forex Pairs Price Performance from MarketMilk

Fresh Market Headlines & Economic Data:

Upcoming Potential Catalysts on the Economic Calendar:

What to Watch: EUR/GBP

EUR/GBP 1-hour Forex Chart
EUR/GBP 1-hour Forex Chart

In a few hours the U.K. will publish its labor market numbers for the month of March. There could be as many as 175,000 new jobless claimants and average earnings could only gain by 3.0% (from 3.1%) even as unemployment stays at 3.9%.

Meanwhile, the euro zone will publish a couple of economic sentiment reports.

If the U.K.’s labor data turn out to be much weaker than what analysts are expecting, then EUR/GBP could break above its .8745 1-hour resistance and firmly leave the 200 SMA behind.

The .8780 and .8800 levels would make for good profit targets for the bulls.

If the pound finds buyers, however, or if sentiment in the euro zone is more sour than many had predicted, then we could see EUR/GBP hold its .8745 resistance and maybe revisit its .8700 or .8680 previous areas of interest.