FXMarketAlerts Team
FXMarketAlerts
Published at 13:22 (GMT) 27 Mar
EUR/USD is heading lower from the earlier 1.0900 test, having failed ahead of the figure level. The steady recovery was given fresh legs by the US Q4 GDP (3rd) estimate, which was unchanged at 2.2% (quarterly annualised) while the market was looking for a minor improvement to 2.4%. Clearly this is/was no reason to sell the USD, and we are back around 1.0850-60 levels - nb, over a yard at 1.0875's rolling off the books at the NY cut today. In the crosses, EUR/JPY has bottomed out just under 129.00 today, while EUR/GBP is gravitating just below .7300, having touched on .7260 earlier on today. EUR/CHF is still struggling in the mid 1.0400's, having found stern resistance above 1.0500 first thing in Europe this morning.
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