EUR and German Gross Domestic Product


  • Previous 0.1% – Expected 0.1% Final reading

  • Above Expected: EUR Bullish

  • Below Expected: EUR Bearish

  • Key pairs to watch: EUR/USD, EUR/JPY

German final revision of GDP may bring not surprises and therefore hardly affect the market. It Is usually the preliminary number that shows the economic situation of a certain country, and the one that moves the most the currency related. However, worth’s to keep in mind Germany data has been far from positive lately, showing signs of slowing down as the rest of Europe. A  negative number well below expected should made EUR tumble against most rivals, particularly against USD and JPY. 

An upward revision on the contrary will favor some EUR gains particularly against greenback, although won’t be enough to push the pair over 20/30 pips higher.


USD and Durable Goods orders 


  • Main: Previous -6.9% – Expected 1.6%

  • Core: Previous -1.5% – Expected 0.6%

  • Above Expected: USD Bullish

  • Below Expected: USD Bearish

  • Key pairs to watch: USD/JPY, EUR/USD

Ahead of the data release, US Durable Goods Orders’ previous month reading had been strongly revisited to the downside, giving not much hope on a strong reading this month. US data will be “read” by market accordingly to its possibilities of increasing or decreasing chances of tapering or maintaining QE. However and with previous negative readings and little certainty coming from the FED, the final reading needs to surprise strongly to the upside to trigger dollar gains on hopes QE will see an end this year. 

If the number disappoints again, dollar current bearish downward correction, may turn into a stronger bearish trend.