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EUR/USD – Can it break higher? (video)

EUR steady as Germany joins UK in negative growth territory

It’s been an interesting morning on the data side in Europe, where Germany joined the UK in the second quarter in recording negative growth. While the UK could argue its contraction is a temporary effect of first quarter stockpiling ahead of the initial Brexit deadline, Germany is arguably more concerning and reflects a broader slowdown as the world around it slows and trade takes a hit. That doesn’t give us much hope that the country will bounce back in the third quarter, as you’d expect with the UK, although that doesn’t seem to be knocking the euro which had already priced it in.

OANDA Senior Market Analyst Craig Erlam discusses all of this and gives his analysis on the EURUSD chart in the video below.

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Craig Erlam

Craig Erlam [5]

Senior Market Analyst - UK & EMEA at OANDA [6]
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all [5])