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Forex: EUR/USD holds at 1.3340 after German real GDP growth

By FXstreet.com,  January 15, 2013, 03:04:00 AM EDT

FXstreet.com (Barcelona) - The EUR/USD trades under pressure today after failing circa 1.3400 mark again, allowing a 60-pip fall during the Asian shift back to 1.3340 (with a low printed at 1.3333), around where the market found support on yesterday's tumble.

Investors are now eyeing the release of relevant data in Germany: real GDP growth eased more than expected, from 3.0% to 0.7%, lower than the 0.8% consensus.

The German HICP came in lower than expected, rising from 1.9% to 2.0%, instead of 2.1% in December. The French budget figure widened its deficit from €-94.6B to €-103.4B in November.

"EUR/USD has stalled on initial test of the 1.3400 resistance and we would allow for a small retracement ahead of any further gains", wrote Commerzbank analyst Karen Jones, pointing to support at 1.3250/00 to keep the market bid.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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