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EUR/USD Risks Further Losses as Growth Outlook Deteriorates
EUR/USD extends previous day’s decline as the ZEW Confidence Survey slips to 44.3 from 61.8 in July; marking the second-lowest reading for 2014. Remains at risk for a further decline as Euro-Zone 2Q Gross Domestic Product (GDP) report is expected to show a slowdown in growth. DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long on EUR/USD, with the ratio standing at +1.94. GBP/USD: Will retain a constructive outlook for GBP/USD as long as it holds above the June low (1.6697); U.K. Jobless Claims projected to contract another 30.0K in July. However, subdued wage growth may undermine the ... (full story)