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14 Aug 2013
EUR/USD spiked to 1.3280 on German GDP
FXstreet.com (Edinburgh) -The EUR/USD climbed to session highs around 1.3280 after the advanced German GDP figures for the second quarter surpassed expectations.
EUR/USD now looks to EMU GDP
The German economy expanded 0.7% inter-quarter and 0.9% on a yearly basis, both prints exceeding the median at 0.6% and 0.3%, respectively. Next on tap in the euro docket will be the preliminary EMU GDP results during Q2. Market consensus expects the bloc to finally expand 0.2% QoQ, leaving behind the recession territory. Over the last twelve months the region is expected to contract 0.8% however. Second-tier data across the Atlantic, with July’s Producer Prices only of mention. In addition, Fed’s Bullard will give a speech in the late European afternoon.
EUR/USD levels to watch
At the moment the pair is up 0.03% at 1.3268 with the next resistance at 1.3391 (high Aug.9) followed by 1.3401 (high Aug.8) and then 1.3417 (high Jun.19). On the downside, a breakdown of 1.3200 (psychological level) would open the door to 1.3188 (low Aug.2) and finally 1.3166 (low Jul.25).
EUR/USD now looks to EMU GDP
The German economy expanded 0.7% inter-quarter and 0.9% on a yearly basis, both prints exceeding the median at 0.6% and 0.3%, respectively. Next on tap in the euro docket will be the preliminary EMU GDP results during Q2. Market consensus expects the bloc to finally expand 0.2% QoQ, leaving behind the recession territory. Over the last twelve months the region is expected to contract 0.8% however. Second-tier data across the Atlantic, with July’s Producer Prices only of mention. In addition, Fed’s Bullard will give a speech in the late European afternoon.
EUR/USD levels to watch
At the moment the pair is up 0.03% at 1.3268 with the next resistance at 1.3391 (high Aug.9) followed by 1.3401 (high Aug.8) and then 1.3417 (high Jun.19). On the downside, a breakdown of 1.3200 (psychological level) would open the door to 1.3188 (low Aug.2) and finally 1.3166 (low Jul.25).