Euro Mixed After Eurozone GDP Data
14 Febbraio 2018 - 07:00AM
RTTF2
The euro turned mixed against its major counterparts in the
European session on Wednesday, after a data showed that Eurozone
economic growth slowed slightly in the fourth quarter.
Flash estimate from Eurostat showed that gross domestic product
climbed 0.6 percent sequentially, following third quarter's 0.7
percent expansion. The rate came in line with the preliminary flash
estimate published on January 30.
On a yearly basis, GDP growth eased slightly to 2.7 percent from
2.8 percent in the preceding period. The annual rate also matched
previous estimate.
Separate data showed that Eurozone industrial production rose
0.4 percent in December from November, when it climbed 1.3
percent.
Production of durable consumer goods increased 2.7 percent, and
output of intermediate goods and energy rose 1.4 percent and 1.3
percent, respectively.
Meanwhile, European stocks rose as investors await the U.S
inflation report due later in the day for further cues on
interest-rate changes in the world's largest economy.
The euro traded mixed against its major rivals in the Asian
session. While it rose against the greenback and the pound, it held
steady against the franc. Against the yen, it dropped.
The euro bounced off to 1.1555 against the Swiss franc, from a
low of 1.1526 hit at 3:30 am ET. If the euro extends rise, 1.17 is
seen as its next resistance level.
The single currency reversed from an early weekly high of 1.2393
against the greenback, pulling back to 1.2346. Next key support for
the euro is likely seen around the 1.20 area.
The euro advanced to near a 5-week high of 0.8919 against the
pound, compared to 0.8888 hit late New York Tuesday. The next
possible resistance for the euro is seen around the 0.92 mark.
The 19-nation currency held steady at 132.72 against the yen,
after bouncing off from a 5-day low of 132.36 seen at 11:15 pm ET.
The pair closed Tuesday's deals at 133.14.
Data from the Cabinet Office showed that Japan's gross domestic
product advanced a seasonally adjusted 0.1 percent on quarter in
the fourth quarter of 2017.
That was shy of expectations for a gain of 0.2 percent and down
from 0.6 percent in the third quarter.
Looking ahead, at 6:20 am ET, the SNB Governing Board Member
Fritz Zurbrugg participates in a panel discussion at the Bundesbank
Cash Symposium, in Frankfurt.
In the New York session, U.S. CPI and retail sales for January
and business inventories for December will be out.
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