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Apr 30 - 05:55 AM

EUR/USD - Dips Below 1.2100 After German GDP Data

By Jeremy Boulton  —  Apr 30 - 04:14 AM
  • German Q1 GDP -1.7% qq vs -1.5% f/c and prior +0.3%

  • EUR/USD dips to 1.2095 EBS in reaction

  • YY data showed some improvement -3.0% from -3.7% and vs -3.2% f/c

  • Traders are long and some may book profits before Japan/China holidays

  • Holidays will suppress activity and weigh on already declining volatility

  • Lower vols are likely to weigh EUR which is undermined by negative yield

  • Dips will probably be shallow, 100-DMA at 1.2056 should limit nL1N2MN0DH


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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