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13 May 2015
EUR/USD deflates to 1.1230 on German data
FXStreet (Edinburgh) - The single currency is now losing the grip vs. the dollar, sending EUR/USD to the area of 1.1235/30.
EUR/USD sheds gains post-German GDP
The pair is leaving the area of session highs after the German economy expanded less than forecasted during the first quarter 0.3% QoQ vs. 0.5% expected and down from 0.7%. Over the last twelve months, the GDP grew 1.1% vs. 1.2% anticipated. Further data from Germany showed headline CPI surpassing consensus at 0.5% on a year to April and 0.0% inter-month.
Ahead in the session, EMU’s GDP figures and the ECB Monetary Policy Meeting Accounts will be the main highlights ahead of US Retail Sales.
EUR/USD levels to watch
At the moment the pair is advancing 0.14% at 1.1229 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, 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).
EUR/USD sheds gains post-German GDP
The pair is leaving the area of session highs after the German economy expanded less than forecasted during the first quarter 0.3% QoQ vs. 0.5% expected and down from 0.7%. Over the last twelve months, the GDP grew 1.1% vs. 1.2% anticipated. Further data from Germany showed headline CPI surpassing consensus at 0.5% on a year to April and 0.0% inter-month.
Ahead in the session, EMU’s GDP figures and the ECB Monetary Policy Meeting Accounts will be the main highlights ahead of US Retail Sales.
EUR/USD levels to watch
At the moment the pair is advancing 0.14% at 1.1229 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, 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).