Mar. 27: American Session
Tatiana Norkina, analyst at FBS
The US GDP quarterly index turned out to be lower than expected - 2.6%, instead of 2.7%. Right after this data publication, the U.S. dollar index started to sink and returned to the morning levels around 80.15, while remaining in the green zone - +0.03%. U.S. stock indexes are also in the black, adding both +0.17%.
One could notice activity in currency markets today. The EUR/USD pair has tested the 1.3750 figure again, but then began to consolidate within the range with the upper limit of 1.3775. GBP/USD began to recover right after the publication of positive data on retail sales. The pair jumped from the 1.6560 level and is currently trading at today's maximums of 1.6640.
The USD/CHF currency pair has once again failed to overcome the barrier of 0.8870 and fell to the 0.8840 support. The USD/JPY pair is exactly in the same situation. The bulls have tried to get the prices back to 102.60, but starting from 102.45, the bears got into the game. Now the pair is back to the 102.00 figure, intensification of the bears' pressure is expected.