FXstreet.com (Barcelona) - EU GDP has come in softer than analyst expectations, in line at -0.2% QOQ but -0.5%/-0.4% YoY.
The initial reaction has been muted with price declining to 0.7926 having made a morning high of 0.794. However, with todays headline events being the BoE and ECB Interest rate decisions and ECB policy statement at 11:00, 11:45 and 12:30 GMT respectively, momentum looks to be low as traders and investors wait on the sidelines. The analysts at ICN.com see bullish sentiment so long as price, currently trading at 0.7926, manages to stay above 0.7880 with further levels of support to found at 0.79/0.788/0.73 and resistance at 0.7965/0.8020/0.8055.
Elsewhere European Equities are up with the majority of commodities also elevated. Spanish and Italian yields are remain lower.
The initial reaction has been muted with price declining to 0.7926 having made a morning high of 0.794. However, with todays headline events being the BoE and ECB Interest rate decisions and ECB policy statement at 11:00, 11:45 and 12:30 GMT respectively, momentum looks to be low as traders and investors wait on the sidelines. The analysts at ICN.com see bullish sentiment so long as price, currently trading at 0.7926, manages to stay above 0.7880 with further levels of support to found at 0.79/0.788/0.73 and resistance at 0.7965/0.8020/0.8055.
Elsewhere European Equities are up with the majority of commodities also elevated. Spanish and Italian yields are remain lower.
