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Morgan Stanley’s analysts offer their outlook on the EUR/USD pair, in light of the recent Chinese trade figures and its positive impact on the Euro.

Key Quotes:

“EURUSD bears have struggled to push the pair below 1.12.

Traders should remember that the RMB plays a key role here, and sentiment is overly bearish.

Especially when China’s January trade figures significantly outperformed expectations.

January export and import figures for China greatly exceed market expectations (imports y/y grew at -1.5%vs consensus of -10.2%).”