Ultimately, it's central banks day. ECB is expected to leave the rates unchanged. Traders are expecting with great interest what Draghi will say. EURUSD is holding pretty well above the 1.3440/50 support and if super Mario is not dovish enough the euro would rally strongly. US GDP is not that important because the data are before the government shutdown. Large deviation from the forecasts however could change the expectations for the future FED policy. Don't trade before ECB today and watch the forward points for the market's verdict. Currently they are as follows:
EURUSD
1M 0.85
3M 1.8
6M 4.2
1Y 10.4
If the points go up this is good for USD,if they go down it is good for EUR. Money market never lies and usually is ahead of the FX.
EURUSD
1M 0.85
3M 1.8
6M 4.2
1Y 10.4
If the points go up this is good for USD,if they go down it is good for EUR. Money market never lies and usually is ahead of the FX.