Eurozone: GDP rose by 0.8% q/q in QI; above expectations

FOREX NEWS: As it became known today, GDP in Eurozone rose by 0.8% (+2.5% y/y) on quarterly basis in QI, while the forecast of growth was to 2.2% y/y and the previous level 2.0%.
 
 

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EUR/JPY Breaks above a Declining Wedge

The EUR/JPY was in a correction after testing 122.00 last week. The rally from 118.50 to 121.85 area was retraced 50% in a declining wedge seen in the 1H chart.

Entering the US session the market broke above the declining wedge, and in the US session, the market is offering a

CABLE – Very Cautiously Bullish Above 1.6617

Supported by positive momentum CABLE was bought to new 17-month highs yesterday. However, these levels were attained in Asia and the European day was dominated by profit taking that reversed all of those overnight gains. Thursday was therefore dominated by the upside rejection but overnight trading has seen a renewal