The main currency pair is falling on Friday after the Eurozone published a weak report on the GDP.
The EUR/USD pair is being sold on Friday afternoon. The current quote for the instrument is 1.1352. After a short pause, sales continue for the second day in a row.
According to the data published today, over the first quarter of 2016 the Eurozone economy increased by 0.5% q/q against the predicted number of 0.6% q/q and 0.3% a quarter before. On a year-on-year basis, it increased by 1.5% over the same period of time. The European Union is looking a bit more lively. The GDP increased by the same number of 0.5%, but on a year-on-year basis it is 1.7%.
On one hand, we cant’ say that the stats is weak. Rising tendencies continue, and still there is an impulse on a quarter-on-quarter basis. On the other hand, right now the Eurozone is surviving on the motivation program, which has no time limitations. As a matter of fact, it’s not a growth as is, but pushes in the back.
Germany released a report on the GDP today, which increased in the first quarter by 0.7% q/q (+1.3%). Here we can also see some improvements on a quarter-on-quarter basis, but on a year-on-year basis, it is slowing down, and is sure to catch the eye. Possibly, the second quarter statistics will be weaker than the current numbers for both the Eurozone and Germany due to a very warm winter of 2016. This is also taken into consideration by the Eurodollar quotes.
The main currency pair will remain tensed until the end of the day, when the USA are planning to publish their statistics. Anti-dollar sentiments became a bit weaker, but, for some reason, it might be not for long.
RoboForex Analytical Department
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