May 15: European session
EUR/USD has touched $1.3659. The euro zone’s economic growth disappointed: according to the flash estimate, the region’s economy gained only 0.2% in Q1, while economists expected a twice bigger advance of 0.4%. The region’s headline CPI, as expected, remained subdued in April, unrevised from the flash reading of 0.7%. No good news from Europe today.
GBP/USD recovered some ground in Europe after having dipped to a 1-month low of $1.6730 earlier in the day. EUR/GBP trades under pressure around 0.8160. There are no important UK releases left this week. Yesterday's selloff of GBP/JPY continues: the pair fell to 170.40 in the session.