Forex: EUR/USD – Stuck around 1.30

on Jul 4, 2013
Listen Thursday July 4th: In quiet trading today, lacking momentum on account of the US national holiday, the pair has proved to be indifferent to the latest European economic updates, notably Eurozone GDP.

Eurostat released earlier in the day the seasonally adjusted Eurozone Gross Domestic Product for the first quarter of 2013, showing that economic growth in the 17-country region shrank by 0.3 percent in June q/q, after a 0.6 percent fall in Q4 of 2012.
The pair has settled around 1.30 in European trading so far, with the market awaiting a statement from the Governing Council of the European Central Bank at the conclusion of its meeting. This will followed by the ECB’s monetary policy decision, due to be announced at 12:45 BST. A press conference is then scheduled for 13:30 BST, with comment likely on the current Eurozone economic situation and the outlook.
The consensus amongst analysts is that the ECB will not introduce any new stimulus measures at this time.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.