Strategy Video: Will EZ GDP and US CPI Data Feed or Reverse EURUSD Breakdown?
• Euro-area 1Q GDP and US CPI data is due for release in the upcoming session
• After the ECB's shift in monetary policy bearings, the growth data will be weighed for QE need
• Fed rate expectations have oscillated back and forth, but US inflation data may anchor speculation
Both the Eurozone GDP and US CPI data will be covered live on DailyFX. Find out their times, where they will be covered and sign up for email reminders on the Webinar Calendar.
Key event risk for the Euro and Dollar in the upcoming session will stir fundamentally important themes and exact volatility on a EURUSD pairing that has already broken critical support. From the Eurozone docket, the focus is on the first readings of 1Q GDP for the region, core and periphery economies. Given the ECB's recent change in tack for monetary policy, this data will have an uneven potential for catalyzing the Euro. Meanwhile, Fed rate expectations have swung the dollar from gains to losses, but the central bank and data have not deviated off course. An April CPI reading can direct the greenback to trend. We discuss the skewed potential of this data specifically on EURUSD in today's Strategy Video.
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