10:00 AM BST, Euro Zone - GDP data:
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GDP (Q2): actual 1.5% YoY; forecast 1.4% YoY; previous 1.5% YoY;
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GDP (Q2): actual 0.1% QoQ; forecast 0.1% QoQ; previous 0.6% QoQ;
10:00 AM BST, Euro Zone - Employment Data:
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Employment Change (Q2): actual 0.6% YoY; forecast 0.7% YoY; previous 0.7% YoY;
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Employment Change (Q2): actual 0.1% QoQ; forecast 0.1% QoQ; previous 0.2% QoQ;
While quaterly growth slowed in line with expectations, the year-on-year reading remained at 1.5%, outperforming the expected downtick by 0.1 pp. The employment change remains marginally positive. The lack of market response is due to no surprises recorded in the final reading for Q2.
EURUSD is approaching the support previously set at 1.169 before the main currency pair descended and consolidated between 1.162 and 1.168, currently trading bullishly above both 30- and 100-hour exponential moving average. Source: xStation5
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