FxWirePro: EUR/USD muted on German GDP data, rangebound into European open
EUR/USD is trading a tight range on Friday, with day's high at 1.1160 and low at 1.1136. Preliminary estimate of German Q1 GDP showed that the economy expanded 0.4%, data fell short of the market expectation of 0.5%. EUR…
EUR/USD is trading a tight range on Friday, with day's high at 1.1160 and low at 1.1136.
Preliminary estimate of German Q1 GDP showed that the economy expanded 0.4%, data fell short of the market expectation of 0.5%.
EUR/USD paid little attention to the preliminary GDP figures in Germany, navigating a narrow range in the mid-1.1100s.
Markets are getting comfortable with the new China fx regime and remain calm this morning, attention remains on EMU's GDP and CPI figures ahead of the Eurogroup meeting.
As the time of writing EUR/USD is trading at 1.1143, almost unchanged on the day, with immediate support and resistance at 1.1098 (55 DMA) and 1.1216 (Daily High Jul 10) respectively.
