EUR/USD Current Price: 1.1756
- The EU Gross Domestic Product printed at 2.0% in the second quarter.
- US Retail Sales came in worse than anticipated, down by 1.1% MoM in July.
- EUR/USD trades just above the 1.1750 support area and is poised to extend its slide.
The American dollar retained its strength through the first half of the day, mainly against high-yielding rivals amid persistent risk-aversion. The EUR/USD pair bottomed at 1.1759 during European trading hours, following the release of unimpressive local data. The preliminary estimate of the Q2 Gross Domestic Product printed at 2% as expected, although the annual reading came in slightly below expected at 13.6%. Employment change in the same quarter beat expectations, up 1.8% vs the -1.8% previous.
The pair extended its slide to 1.1748 after the release of US Retail Sales, which were worse than anticipated, falling 1.1% MoM in July. The core reading…