Forex Flash: GDP flash estimate bad for the euro – UBS

The flash estimates for the eurozone GDP in Q4 disappointed expectations clearly, says UBS team. "Negative surprises came from all regions, even Germany was a tick below expectations".

"With this data investors found more reason to speculate about an ECB rate cut", they commented. "We do not forecast a rate cut happening, but can clearly see that the expectations help to brings EURUSD to the lower end of our 1.30-1.35 range".

Feb 14, 2013

Forex Flash: Euro could see further weakness - Wells Fargo

The euro fell on Thursday and is among the worst performers as the fourth quarter GDP fell even more than expected, "reinforcing the dovish sentiment generated after last week's European Central Bank monetary policy announcement", says Nick Bennenbroek, Head of Currency Strategy at Wells Fargo Bank.

Session Recap: Euro and Pound under pressure, USD/JPY break down 93.00

Today's American session is seeing how the Euro is suffering after poor Eurozone GDP and a horrifying 27% unemployment rate with the EUR/USD testing levels around the 1.3300 frontier. Fundamentals in US has published good data as jobless claims continued its downtrend. However, it isn't about Dollar strengthening but Euro weakness.