According to US GDP: EUR/USD dips

FXStreet – The robust US economic data strengthened the U.S. Dollar and the common currency under pressure. So it went for the Euro exchange rate in the peak to a Low of 1,1174.

EUR/USD weaker after US data

Positive failed U.S. economic data had supported the Greenback in the afternoon and the Euro is in return under pressure. Gross domestic product grew at annual rates of 1.2 percent, reported the Commerce Department on Friday, according to a second estimate in Washington. Experts had only expected a rise of 0.7 to 0.9 percent.

In addition, the order intake for durable goods fell in April, less than expected. The new orders fell by 0.7 percent to EUR 231.2 billion dollars. Excluding the volatile orders for transportation goods, a slight Minus of 0.4 percent for April. Economists had said a rise of 0.4 per cent previously.

In the further course of the meeting the of the University of Michigan collected consumer confidence is on the Agenda. Preliminary surveys indicate a decline of 97.7 to 97.5 points for the current month close.

EUR/USD significant levels

The GBP/USD traded last on 1,1175 and to 0.32 percent in the Minus. The next supports lie at 1,1167 (Deep 24. May), 1,1073 (76,4% Fibo) and 1,1036 (20-day line). Resistors, however, are at 1,1250 (High-25. May), 1,1267 (High-23. May 2017) and 1.1300 (High 09. Find November 2016).

** FXStreet News Editorial, FXStreet**

Leave a Reply