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27 Mar 2015
EUR/USD turns positive on US GDP
FXStreet (Edinburgh) - The European currency continues its slow recovery from session lows, now pushing EUR/USD to the area of 1.0890/95.
EUR/USD firmer post-GDP
The pair moved higher after the revision of the US GDP Annualized showed that the economy expanded 2.2% during the fourth quarter vs. 2.4% forecasted. The inflation figures gauged by headline PCE saw consumer prices contracting 0.4% inter-quarter while Core PCE rose 1.1% QoQ, both prints matching the median.
Next on tap will be the US Consumer Sentiment for the current month measured by the Reuters/Michigan index, expected to ease to 92.0 from 95.4. The speech by Chairwoman J.Yellen will close the trading week, expected in the European night.
EUR/USD levels to consider
As of writing the pair is up 0.06% at 1.0891 and a break above 1.0930 (100-h MA) would aim for 1.1052 (high Mar.26) and finally 1.1062 (high Mar.18). On the flip side, the next support aligns at 1.0801 (low Mar.27) ahead of 1.0767 (low Mar.23) and finally 1.0656 (low Mar.20).
EUR/USD firmer post-GDP
The pair moved higher after the revision of the US GDP Annualized showed that the economy expanded 2.2% during the fourth quarter vs. 2.4% forecasted. The inflation figures gauged by headline PCE saw consumer prices contracting 0.4% inter-quarter while Core PCE rose 1.1% QoQ, both prints matching the median.
Next on tap will be the US Consumer Sentiment for the current month measured by the Reuters/Michigan index, expected to ease to 92.0 from 95.4. The speech by Chairwoman J.Yellen will close the trading week, expected in the European night.
EUR/USD levels to consider
As of writing the pair is up 0.06% at 1.0891 and a break above 1.0930 (100-h MA) would aim for 1.1052 (high Mar.26) and finally 1.1062 (high Mar.18). On the flip side, the next support aligns at 1.0801 (low Mar.27) ahead of 1.0767 (low Mar.23) and finally 1.0656 (low Mar.20).