FXstreet.com (Barcelona) - The three banks have released their trade
recommendations for the day. The Copenhagen based bank, Danske Bank,
suggests in its daily technical report to “short at 1.2490 for a 1.2386
objective, stop 1.2544", while Commerzbank recommends to “stand aside
for a while.” UBS' Chris Walker, believes the cross will be at 1.20 in
the next 3 months and at 1.15 in the next twelve months.
Gross
domestic product in the EMU had QoQ and YoY growth at 0.0% and -0.1%,
respectively. Industrial production in the eurozone’s biggest economy,
Germany, came below expectations at -2.2% (MoM). On the other hand,
mortgage applications in the US grew by 1.3% in the week ending June
1st.
The pair is currently trading at 1.2470, gaining 0.14%.
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