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
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.
SHORT @ 1.3475
§ 41% of deals buy EUR
LONG @ 92.90
43% of deals buy USD
SHORT @ 1.5585
§ 66% of deals buy GBP
LONG @ 1.0320
§ 58% of deals buy AUD
SHORT @ 1654
§ 80% of deals buy GOLD
LONG @ 96.50
§ 41% of deals buy OIL
LONG @ 1512
§ 11% of deals buy US 500
LONG @ 6268
§ 18% of deals buy UK 100
1data generated by Trading Central™, 2data obtained from easy-forex Inside Viewer™
Italian Prelim GDP q/q
Flash GDP q/q
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