EUR/USD having opened lower, is coming under further selling pressure in early European trade, presently at 1.3950. Technical supports are now lined up at 1.3940/45 and 1.3920/25. Stops said to be gathered around 1.3915.
Earlier data saw Q-1 German GDP confirmed at -3.8% q/q and -6.9% y/y.
German Gfk consumer sentiment index for June came in at 2.5 vs 2.5 in May, and exactly in line with median forecast.
German import prices for April came in at -0.8% m/m and -8.6%, much weaker than median forecasts of +0.2% and -7.7% respectively. The annual decline was the biggest in 22 years, spurred by a strong decrease in energy costs.
