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Euro slumps on German GDP shock
Morning Report: 08.00 London
• This morning, the euro has continued its sell off after first French, then German GDP Came in below analyst’s estimates. French GDP dropped by 0.2% by German GDP rose by just 0.1%.
• The dollar index has been the big winner again, while gold has dropped another 0.91%.
• Italian GDP is due at 09.00, with a drop of 0.4% expected. Pan European flash GDP is due at 10.00.
• From 09.30, we have UK claimant count change, with a drop by 3.1K expected and the unemployment expected to remain unchanged.
• BOE Governor King speaks at 10.30, with the inflation report due at the same time.
•From 13.30, we switch to North America with Canadian manufacturing sales, US PPI and Empire State Manufacturing. Capacity utilisation follows at 14.15. Bet Idea:
•This morning’s European GDP data has shown that the continent is far from being out of the woods yet.
•The EUR/GBP is dropping slightly this morning as the British pound holds firm. This move could gather momentum with 0.8495 acting as a resistance point.
Euro slumps on German GDP shock
Morning Report: 08.00 London
• This morning, the euro has continued its sell off after first French, then German GDP Came in below analyst’s estimates. French GDP dropped by 0.2% by German GDP rose by just 0.1%.
• The dollar index has been the big winner again, while gold has dropped another 0.91%.
Click here to view full-sized image
Click here to view full-sized image
• The EUR/USD has slipped 0.29%, while the AUD/USD drops 0.43% and the NZD/USD furthers its downtrend by 0.3%.
Click here to view full-sized image
Click here to view full-sized image
Click here to view full-sized image
Coming up today:
• Italian GDP is due at 09.00, with a drop of 0.4% expected. Pan European flash GDP is due at 10.00.
• From 09.30, we have UK claimant count change, with a drop by 3.1K expected and the unemployment expected to remain unchanged.
• BOE Governor King speaks at 10.30, with the inflation report due at the same time.
• From 13.30, we switch to North America with Canadian manufacturing sales, US PPI and Empire State Manufacturing. Capacity utilisation follows at 14.15.
Bet Idea:
• This morning’s European GDP data has shown that the continent is far from being out of the woods yet.
• The EUR/GBP is dropping slightly this morning as the British pound holds firm. This move could gather momentum with 0.8495 acting as a resistance point.
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A good way to play this could be a LOWER trade predicting that the EUR/GBP closes below 0.8450 in 2 days. This could return 172% if successful.
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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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