Global macro overview for 08/09/2015:
Today, data on the revised EU GDP for the second quarter is due to be released. The market expects the indicator to stay flat at 0.3% q/q (1.2% y/y) compared to the previous reading. Please notice this data will be accompanied by data releases from Germany and France (trade balance).
The EUR/USD pair stays in the middle of its trading range between the levels of 1.1712 and 1.0808. Both bulls and bears are trying to win this battle. The support is seen at the levels of 1.1086 and 1.1015 and resistance at the levels of 1.1240 and 1.1331.
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