It’s been an active enough morning in EUR/USD, but when all said and done we’re not really going anywhere.
EUR/USD sits at 1.2514, up a mere 12 pips from the 1.2502 which greeted me first thing.
We’ve been as high as 1.2528 in recent trade, but the sell orders mentioned in the earlier orderboard from 1.2520 up to 1.2550 area are proving a problem for the euro bulls at present.
We’ve got euro zone Q1 GDP data coming up at 09:00 GMT, expected flat both q/q and y/y
Then at 10:00 GMT we’ve German industrial production for April expected -1.0% m/m, +0.9% y/y (wda)
Finally at 11:45 GMT we’ve ECB rate decsion. I think I must be the only person who thinks they might ease policy. Guess I’m gonna be wrong again
