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Forex: EUR/GBP plunges below 0.8600 on EMU weakness

The EUR/GBP has fallen in a multi-tiered pattern as each successive GDP release across Europe today paints the same disappointing picture. Most recently, on the heels of GDP data in the EMU, the cross plunged and is currently establishing session lows at the 0.8592/93 level at the time of writing.

In the EMU, the weakness across GDP figures continued today as the Gross Domestic Product s.a. (QoQ) fell -0.6% in the fourth quarter, against a consensus of only -0.4%. In addition, the Gross Domestic Product s.a. (YoY) also contracted -0.9% in the fourth quarter, which was in excess of estimated figures of only -0.7%

At the time of writing, the pair is recording a massive sizable of -0.72% Thursday and according to the Analysts at Mataf.net, the EUR/GBP may find stability at the 0.8592 support, followed by 0.8525, and finally 0.8479. On the ascension, resistances lie ahead at 0.8705, onto 0.8751, and 0.8818.

Forex: USD/CHF rallies towards 0.9247 won EMU GDP

In reaction to the flash EMU GDP Q4 release, and as the CHF remains quite pegged to the EUR, the USD/CHF is running to the opposite direction of the EUR/USD. The pair had already breached above the 0.9200 mark earlier in the European morning and is now rallying as EMU economic growth came in worse than expected in the preliminary report.
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Fundamental Morning Wrap: EUR follows GBP lower, with JPY in G20 focus

Looking across the mornings research, we note three distinct themes in the markets eye this morning. EU GDP contraction, GBP decline amid inflation concerns, and Japanese monetary policy coming into focus at the G20.
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