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17 May 2022

Euro area GDP grows at an annualized rate of 5.1% in Q1 vs. 5% expected

Euro area economy grew by 5.1% (YoY) in the first quarter.
EUR/USD continues to push higher toward 1.0500 after the data.

The data published by Eurostat showed on Tuesday that the seasonally adjusted Gross Domestic Product grew at an annualized rate of 5.1% in the first quarter, compared to the market expectation of 5%.

Further details of the publication revealed that on a quarterly basis, GDP increased by 0.3%. Finally, the Employment Change was up 0.5% in the first quarter as expected.

Market reaction

The shared currency preserves its strength after these data. As of writing, EUR/USD pair was trading at 1.0480, rising 0.5% on a daily basis.

May 17, 2022

GBP/USD rallies to near two-week high, eyeing 1.2500 ahead of US data/Fed's Powell

The GBP/USD pair added to its strong intraday gains and shot to a nearly two-week high, around the 1.2480 region during the first half of the European

USD/CNH: Short-term top in place? – UOB

USD/CNH’s uptrend seems to be running out of steam, commented Lee Sue Ann and Quek Ser Leang, FX Strategists at UOB Group. Key Quotes 24-hour view: “U