From the Westpac Spot Desk via our FXWW chatroom:
Weaker French GDP and revisions lower to 2015 growth from 1% to 0.5%, German GDP coming in weaker sets the tone for flat EZ growth at 10am. Euro likely to test bids 1.3340-30 but despite all the bad news seems in no rush to test barriers 1.3300 and stops below 1.3280/70. Today large xxx at 1.3400 (euro 1.1bln) sees offers 1.3370-90. Aud looks like it will trade between expiry int 0.9275 (aud 700m) and 0.9320-30 (aud 650m). Nzd offers 0.8480-0.8510.
Elsewhere large Jpy xxx 101.95-102.05 ($2.1bln) with local offers 102.70-90 might see a move to 102.20-00. Gbp 200dma 1.6664 watched with int with mkt still long and my tech gurus all looking for eurgbp to retrace further to test 100dma at 0.8082. Cad awaits tom’s true employment data after Stats Canada faux pas – why wait 3 days to release? – Mkt all looking for a stronger number with mkt previously on 20k and outcome 0.2K. Like buying usd cad below 1.0880. Today decent cad xxx at 1.0925. After yesterdays excitement another long day ahead have a great day.
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