EUR: The GDP data for the Eurozone GDP is set to show a contraction after the German data came out weaker than expected this morning (rising just 0.1%). Eurozone initially seen falling -0.1%, but at least 0.2% decline now looking likely. A weaker number than this would further knock the euro. Update: the euro-zone contracted by 0.2%. GBP: Focus on the Inflation Report. The previous publication in February knocked sterling lower as the Bank projected inflation above target on its 2 year horizon at the same time as pushing for more stimulus for the economy. We’re not likely to get such a bearish outcome this time around. Update: UK jobless claims came out better than expected. Idea of the Day Three months ago, sterling was knocked lower by the Inflation Report because the Bank of England said inflation was likely to remain above target over their 2 year forecast horizon. Over the same period, both the governor and two others were voting for further quantitative easing to further stimulate the economy. The result was a 4% depreciation of sterling over the subsequent month to a low just above 1.48. We’re not likely to see a repeat this time around. The growth outlook has improved a little and inflation projections should not worsen and may even improve a little. But we do remain in something of a no-man’s land, waiting for the new governor in July and more details of a revised policy framework in August. This is likely to act as a constraining factor on sterling, even if the news is more positive today. Latest FX News JPY: Holding very steady during the Asia session after push to new highs into the close on Tuesday (102.43). Market looking to weekly portfolio data on Thursday for signs of continued foreign asset purchases by domestic investors after the turnaround in last week’s data. AUD: The budget was seen paving the way for further interest rate cuts from the RBA, which put the Aussie on the defensive and at new lows for the year at 0.9877. GBP: Cable has been declining for the past four sessions, although no single fundamental driver to the softer tone. The Inflation Report the crucial factor for today’s session. EUR: Knocked lower at the start of the European session (through 1.29 on EURUSD) on weaker than expected German GDP data, with growth just 0.1% in the first quarter, after 0.7% decline previously. Further reading: The Fed needs to be convinced that this time it’s for real FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next Italy’s economy squeezes more than expected Yohay Elam 9 years EUR: The GDP data for the Eurozone GDP is set to show a contraction after the German data came out weaker than expected this morning (rising just 0.1%). Eurozone initially seen falling -0.1%, but at least 0.2% decline now looking likely. A weaker number than this would further knock the euro. Update: the euro-zone contracted by 0.2%. GBP: Focus on the Inflation Report. The previous publication in February knocked sterling lower as the Bank projected inflation above target on its 2 year horizon at the same time as pushing for more stimulus for the economy. We're not likely to get… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.