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30 Apr 2013
Forex: EUR/USD dips to 1.3075/80 on Spanish GDP
FXstreet.com (Barcelona) - The bloc currency is accelerating its decline on Tuesday, printing fresh session lows in the area of 1.3070/75 after the Spanish economic activity contracted 2.0% during the first quarter, matching estimates and down from the previous contraction of 1.8%. On a QoQ basis, the GDP contracted 0.5% vs. -0.7% previous.
Next on tap in the euro zone docket will be the German jobless rate, expected to stay unchanged at 6.9% in April.
At the moment, the cross is down 0.13% at 1.3083 with the immediate support at 1.3029 (MA21d) followed by 1.2988 (low Apr.25) and finally 1.2958 (MA200d).
On the flip side, a break above 1.3130 (high Apr.19) would bring 1.3158 (MA100d) and then 1.3202 (high Apr.16).
Next on tap in the euro zone docket will be the German jobless rate, expected to stay unchanged at 6.9% in April.
At the moment, the cross is down 0.13% at 1.3083 with the immediate support at 1.3029 (MA21d) followed by 1.2988 (low Apr.25) and finally 1.2958 (MA200d).
On the flip side, a break above 1.3130 (high Apr.19) would bring 1.3158 (MA100d) and then 1.3202 (high Apr.16).