13 May 2015
EUR/USD turns negative on EMU GDP
FXStreet (Edinburgh) - The European currency is easing further on Wednesday, now pushing EUR/USD to the 1.1215/10 area.
EUR/USD a tad weaker on EMU’s releases
The pair is giving away further gains after the preliminary GDP figures in the euro area showed the economy has expanded 0.4% inter-quarter during Q1, below consensus at 0.5%; over the last twelve months, the region grew 1.0%, missing forecasts for 1.1% gain.
Further publications saw EMU’s Industrial Production disappointing markets after contracting 0.3% from February to March. Ahead in the session, ECB’s Accounts are due followed by US Retail Sales.
EUR/USD levels to watch
At the moment the pair is retreating 0.04% at 1.1210 and a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392). On the flip side, the initial hurdle aligns at 1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level).
EUR/USD a tad weaker on EMU’s releases
The pair is giving away further gains after the preliminary GDP figures in the euro area showed the economy has expanded 0.4% inter-quarter during Q1, below consensus at 0.5%; over the last twelve months, the region grew 1.0%, missing forecasts for 1.1% gain.
Further publications saw EMU’s Industrial Production disappointing markets after contracting 0.3% from February to March. Ahead in the session, ECB’s Accounts are due followed by US Retail Sales.
EUR/USD levels to watch
At the moment the pair is retreating 0.04% at 1.1210 and a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392). On the flip side, the initial hurdle aligns at 1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level).