Bank of France’s central banker speaking on LCI TV
- France must improve public finances and cut deficits
- Bank of France sees French GDP growing 1.9% in 2017
- BOF will also raise French 4Q growth target to 0.6% on QoQ from 0.5% previously
- Thursday’s business confidence data is good
The EURUSD is trading at 1.1958 currently. The 1.19605 was a swing high from November 2017. The price is trading around the level over the last few trading hours. I think it will be the next barometer for bulls and bears.
Earlier today, the pair moved above the 100 and 200 hour MAs and the 50% (see prior post) on flow into the EUR on the back of the China story of getting out of US debt. That break was short lived and the price rotated back down.