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EUR/USD lifts into and after GDP and HCIP data

Just ahead of the latest important Eurozone GDP and HCIP inflation data, the EUR/USD pushed a little higher. It is probably best if you all draw your own conclusion on why that was, but the inference here is clear; well as clear as it can be. So, Eurozone GDP slightly beat the street, as did the HCIP data and that has supported the Euro a little. The EUR/USD is now rising towards 1.0725 following these releases. The key point here, is that inflation in the area is not advancing, but not falling significantly either and that has implications for the ECB at their June meeting. The DAX is still falling by the way and that ties in with the push higher in the EUR/USD right now. The EUR/USD is currently trading at 1.0724 
 

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