Forex Strategy Video: What is the Risk of a EURUSD Breakout on EZ GDP?
• The Euro has proven stubborn to the traditional 'risk-on/risk-off' type fundamental drivers
• Eurozone GDP readings tap the underlying confidence for the currency, and 4Q data is due
• EURUSD is the best read for the data's influence but there is plenty of opportunity from other crosses
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The euro has been a stalwart for the FX market since the ECB introduced the OMT program back in July of 2012. Yet, the capital flow into the region has sought out yield with little trouble to the region's troubles. A steady recovery in economic activity is critical for the region (and thereby the currency) long term as the risk from social and financial stability are just beyond arms reach. What will this data mean for the Euro both for the immediate volatility response and longer-term trend? We discuss the event and look at the Euro pairs in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.