EU Morning Report - European GDP figures push euro lower.

The euro (EUR) is moving lower versus the US dollar (USD) touching 1.3439 as news comes out for the European economy. French preliminary GDP came out worse than expected at -0.3% and looking ahead we expect preliminary GDP releases from Germany and Italy. Later this afternoon we expect US unemployment claims to come out lower than last month. This creates a negative sentiment for the single currency which may edge lower in today’s trading

§ The US dollar (USD) gained versus the Japanese yen (JPY) touching 93.61 after worse than expected growth results. PM Abe’s decision to aim inflation at 2% through monetary easing from the Bank of Japan looks to be moving in this direction as the bank kept rates unchanged.

§ Brent Crude (BRT) consolidates at 117.91 after volatile trading due to better than unexpected growth from Asian economies the push the energy higher.

§ The UK100 (FTS) edged above 6360 as higher than expected inflation reports came out in the UK pushing investors into equities.

Stay in tune throughout the day with foreign exchange bullets!

MOVERS ? SHAKERS

GBPUSD

The British Pound (GBP) reached its lowest point in six months against the US dollar (USD) after worse than expected comments from Bank of England Governor Mervin King. The sterling touched 1.5511 in early trading as the BoE is expected to ease its monetary stimulus further.

OUTLOOK ?		Pivot	Preference¹	Sentiment²
	EURUSD	1.3475	SHORT @ 1.3475	§ 41% of deals buy EUR
	USDJPY	92.90	LONG @ 92.90	43% of deals buy USD
	GBPUSD	1.5585	SHORT @ 1.5585	§ 66% of deals buy GBP
	AUDUSD	1.0320	LONG @ 1.0320	§ 58% of deals buy AUD
	GOLD	1654	SHORT @ 1654	§ 80% of deals buy GOLD
	OIL	96.50	LONG @ 96.50	§ 41% of deals buy OIL
	US 500	1512	LONG @ 1512	§ 11% of deals buy US 500
	UK 100	6268	LONG @ 6268	§ 18% of deals buy UK 100

¹data generated by Trading Central™, ²data obtained from easy-forex Inside Viewer™

CALENDAR ?	Currency	Time (GMT)	Event	Forecast
	EUR	09:00	Italian Prelim GDP q/q	-0.5%
	EUR	10:00	Flash GDP q/q	-0.4%
	USD	13:30	Unemployment Claims	361K

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EU Morning Report - European GDP figures push euro lower.

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