On Friday, traders awaited the US Q1 GDP release. The report was a bit weaker-than-expected, but underlying not to bad. However, it couldn’t inspire a big directional move in EUR/USD. The pair held its sideways consolidation pattern in the 1.30 area. Intraday, EUR/USD changed hands in the 1.3030 area at the start of European trading. The pair tried to regain the 1.3050 area, but the move failed as sentiment on the European equities had turned more cautious. The poor EMU M3 data were no big issue for trading, but also didn’t support the single currency.
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