Euro falls after GDP data

[RTFX-Trading]

Euro falls after GDP data

What's new:

UK: February industrial production -1.0%, exp -1.2%
UK: Manufacturing output in February -0.9% exp -1.50%
Euro-zone: GDP figures lower at -1.6%, exp -1.5%

Today:

16:00 US: index of consumer sentiment IBD April, last 45.3
21:00 US: consumer credit in February, exp-3.5 billion, previous 1.60 billion.

European Session Ranges:

EURUSD: 1.3397-1.3226
USDCHF: 1.1347 - 1.1483
GBPUSD: 1.4744 - 1.4583
EURCHF: 1.5213 - 1.5167
USDJPY: 100.60 – 99.87
Gold: $ 879.80

Comments:

The EURUSD fell towards second daily support late Tuesday morning as GDP numbers came in lower than expected at -1.6%. The level to watch as the US session gets underway is 1.3322, as if it breaks this point a further rise to 1.3452-1.3499 levels is expected. A break of the 1.3228 would signal a bearish move towards 1.2968.

Better than expected data from the UK, allowed the GBPUSD to recover to 1.4721 after the first daily support at 1.4641 was tested.


Good Afternoon

Nicolas Longchamp
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