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EUR lowering down ahead of EU leader’s meeting

USD grids higher gradually with some steady risk sentiment overnight after Trump plays down restriction for Chinese investment but the effect are rather short-lived. USDJPY and JPY cross rebounded driven by the USD recovery with EUR and GBP leading the way.

GBP break 1.3102 prior year low and taken out option barrier at 1.3100 down to 1.3065 fresh year low before it slightly stabilize, sentiment remains heavy despite oversold and short term target remain at 1.30 if capping under 1.32 handle.

EUR lower down ahead of today and tomorrows EU leader meeting and with today’s Eurozone confidence data and Germany CPI will have some impact as well, support at 1.1510 and topside resistance at 1.1580-00 region.

Today US initial jobless claims, Q1 GDP and Personal Consumption Expenditures as well as Bullard and Bostic speech together with stock/bond market move will direct the intraday action. Risk sentiment remains fragile and USD still in choppy consolidation pattern more likely.

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