24 days ago • Posted by Paul de La Baume

#EUR under pressure, despite #GDP growth #forex #trading

Eurozone GDP came stronger than expected at 0.8% QoQ versus 0.6% expected. Nonetheless, tensions with Russia are causing weakness in the common currency as the energy situation remains uncertain. The euro slipped below 0.99 against the dollar, after a report on the US services industry came stronger than expected. Demand for the US dollar continues to be stronger with investors buying the greenback for yield and the safe-haven alternative it provides.