Forex: EUR/USD tests Sept-14/17 highs at 1.3169/71
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EUR/USD
FXstreet.com (Barcelona) - Month end flows have pulled the EURUSD back to a flat candlestick in the weekly chart, with the European tumble totalling 90 pips down to 1.3166 low. The pair may have found support at September 14/17 highs, at 1.3169/71.
Q3 killed what was left of economic growth in France, as the annualized GDP Q3 eased from +0.2% (revised from 0.3%) to 0.0%, and the quarterly change was only of +0.1% (Q2 was revised from -0.1% to +0.2%).
The Italian Producer Price Index (YoY) eased from 2.3% to 2.0% in November, coming below the expected 2.1%. November Retail Sales in Spain also came in better than expected, rising from -9.7% to -7.8%, while market consensus was pointing to a wider contraction of -10.0%.
UBS analysts are bullish: "We look for a potential break above 1.3386, the March high to extend the strength to 1.3493", wrote analyst Gareth Berry, pointing to support at 1.3143.
Q3 killed what was left of economic growth in France, as the annualized GDP Q3 eased from +0.2% (revised from 0.3%) to 0.0%, and the quarterly change was only of +0.1% (Q2 was revised from -0.1% to +0.2%).
The Italian Producer Price Index (YoY) eased from 2.3% to 2.0% in November, coming below the expected 2.1%. November Retail Sales in Spain also came in better than expected, rising from -9.7% to -7.8%, while market consensus was pointing to a wider contraction of -10.0%.
UBS analysts are bullish: "We look for a potential break above 1.3386, the March high to extend the strength to 1.3493", wrote analyst Gareth Berry, pointing to support at 1.3143.
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