Will European GDP drop? – Focus German GDP

While Aussie dollar may hold steady await RBA meeting minutes at 08.30 a.m. U.S. dollar fell lower early morning on Monday because U.S. yields decreased and investors wound back the expectation that the U.S. Federal Reserve will rapid interest hike this year.
Euro may try to rise to retest resistance 1.2100 USD. However, Euro may get stuck by German and European Union GDP at 1.200 USD. I think EU first quarter GDP at 16.00 p.m. may not reach forecast at 0.4%, If German first quarter GDP at 13.00 p.m. falls lower than 0.4%. But euro may hold above 1.950 dollar. While British pound may try to hold above the support line at 1.3500 or rise higher than 1.3600, if average earning index and claimant count change at 15.30 p.m. will be better than expected. I also suggest seeing Bank of England inflation report at 16.00 p.m. which may not surprise market. U.S. dollar may hold steady supporting by economic data: retail sales and core retail sales in April at 19.30 p.m. and I suggest listening FOMC Kaplan speech at 19.00 p.m.
While bitcoin price still cannot recover from the South Korean news. However, it may get the volume from South African countries. However, some African countries start to ban cryptocurrency such as Zimbabwe.

By Niramon Nitnitiphruet
Financial analyst, Olymp trade.

Olymp Trade Review