The United States reported a 0.7% decline of its GDP USA in the first quarter of 2015, a better than expected Gross Domestic Product if we compared with the 0.8% contraction awaited for markets. The USA GDP number is better than expected but but worst than previous +0.2% in the Q4, and it is not good for the US Dollar.
According to Valeria Bednarik, "market is not yet ready for jumping into the Dollar," as investors need more data to positions into the dollar.
EUR/USD needs to move above 1.1000 or below 1.0952 to offer market opportunities today in the short term. "If the EUR/USD doesn't reach these levels today," said Bednarik, "market will fall into wait and see mode until next Friday Nonfarm payrolls."
According to Valeria Bednarik, "market is not yet ready for jumping into the Dollar," as investors need more data to positions into the dollar.
EUR/USD needs to move above 1.1000 or below 1.0952 to offer market opportunities today in the short term. "If the EUR/USD doesn't reach these levels today," said Bednarik, "market will fall into wait and see mode until next Friday Nonfarm payrolls."
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