The Euro traded sideways against the US Dollar, following the US Advance GDP data release on Wednesday at 12:32 GMT. The EUR/USD exchange currency rate gained 6 pips or 0.05% after the release. The Euro continued trading at the 1.0850 level against the Greenback after the release.
The Bureau of Economic Analysis released the US Advance GDP data, which came out worse-than-expected of negative 4.8% compared with the forecast of negative 4.0%.
According to the official release: "The decline in first quarter GDP was, in part, due to the response to the spread of COVID-19, as governments issued "stay-at-home" orders in March. This led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending."
| Date | 26.04.20 | 26.07.20 | 30.10.20 | 30.01.20 | 29.04.20 |
|---|---|---|---|---|---|
| Actual | 3.2% | 2.1% | 1.9% | 2.1% | -4.8% |
| Forecast | 2.2% | 1.8% | 1.6% | 2.1% | -4.0% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/USD | 0.65177 | 0.65209 | 0.05% |
| EUR/USD | 1.08437 | 1.08449 | 0.01% |
| NZD/USD | 0.60851 | 0.60886 | 0.06% |
| USD/JPY | 106.748 | 106.601 | -0.14% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/USD | 38.4% | 61.6% |
| EUR/USD | 25.8% | 74.2% |
| NZD/USD | 63.2% | 36.9% |
| USD/JPY | 40.3% | 59.7% |
Economic calendar