Data sends USD way down
The US economy grew @ 1.9% on a quarterly basis, vs the 2.2% expected, and that has sent the USD down very fast against everything.
EUR/USD up to key area 1.5660-70, USD/CHF pays off our trade very fast as the unit collapse to 1.0430, the heavy USD/JPY (anticipated here) collapses to 107.80 support, and JPY crosses move down (as expected) very fast.
All in all, just a way to justify techs, as usual. EUR/USD perhaps the trickiest case at the moment, but we’ve cashed some good pips in USD/CHF anyway.
Also, Canadian economy on a monthly basis grew below expectations, -0.1% vs +0.2% expected. Therefore, USD/CAD spiked to 1.0270 very fast on the bad data but retraced all that in no time as US data was also bad.
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