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14 Aug 2015
EUR/USD around 1.1150 on German data
FXStreet (Edinburgh) - The single currency is navigating a tight range on Friday, taking EUR/USD to a narrow range in the mid-1.1100s.
EUR/USD muted on German GDP
Spot paid little attention to the preliminary GDP figures in Germany, which showed the economy has expanded 0.4% inter-quarter in Q2 and 1.6% on a yearly basis vs. expectations at 0.5% and 1.5%, respectively. Previously, the French GDP has missed estimates, coming in flat vs. forecasts for a 0.2% expansion.
Spot bounced sharply from Thursday’s lows around 1.1080 amidst a renewed sentiment towards the greenback. Today’s calmer scenario in China leaves the pair’s attention to EMU’s GDP and CPI figures ahead of the Eurogroup meeting.
EUR/USD levels to watch
As of writing the pair is flat at 1.1149 and a break below 1.1057 (low Aug.12) would target 1.0961 (low Aug.11) en route to 1.0855 (low Aug.7). On the upside, the initial up-barrier aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).
EUR/USD muted on German GDP
Spot paid little attention to the preliminary GDP figures in Germany, which showed the economy has expanded 0.4% inter-quarter in Q2 and 1.6% on a yearly basis vs. expectations at 0.5% and 1.5%, respectively. Previously, the French GDP has missed estimates, coming in flat vs. forecasts for a 0.2% expansion.
Spot bounced sharply from Thursday’s lows around 1.1080 amidst a renewed sentiment towards the greenback. Today’s calmer scenario in China leaves the pair’s attention to EMU’s GDP and CPI figures ahead of the Eurogroup meeting.
EUR/USD levels to watch
As of writing the pair is flat at 1.1149 and a break below 1.1057 (low Aug.12) would target 1.0961 (low Aug.11) en route to 1.0855 (low Aug.7). On the upside, the initial up-barrier aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).