EUR/USD unchanged around 1.1370 post-EMU GDP

  • Spot paid little attention to data, remains around 1.1370/80.
  • EMU’s Q3 GDP came in at 1.6% YoY in the third quarter.
  • Attention now shifted to US Non-farm Payrolls (200K exp.).

The demand for the single currency stays subdued at the end of the week, with EUR/USD navigating the 1.1370/80 band.

EUR/USD now looks to US calendar

The pair keeps the sideline theme unchanged so far this week, with the upside always capped by the low-1.1400s.

As usual, investors remain vigilant on headlines from the Italian political scenario, where the government is due to release a revised 2019 draft budget next week. Also grabbing special attention, the UK’s House of Commons should vote on the Brexit deal on December 11.

In the data space, EUR posted to reaction after final GDP figures in the euro area showed the economy in the region expanded 0.2% inter-quarter and 1.6% on an annualized basis in the July-September period.

Later in the day, all the looks will be on the publication of November’s US Payrolls, expected at 200K jobs.

EUR/USD levels to watch

At the moment, the pair is losing 0.10% at 1.1367 facing the next support at 1.1349 (21-day SMA) seconded by 1.1264 (low Nov.28) and finally 1.1214 (2018 low Nov.12). On the flip side, a breakout of 1.1421 (high Dec.4) would target 1.1434 (high Nov.22) en route to 1.1473 (high Nov.20).

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