Forex Flash: EUR/USD could fall toward 1.2600 - UBS

FXstreet.com (Córdoba) - FX markets ignored on Wednesday bad data out of Europe and out of the US, according to the UBS analyst team. "In Germany a weak ifo index re-inforced expectations for a rate cut by the ECB on May 2nd. In the US a surprising fall of durable goods orders questioned the timing for tapering off the quantitative easing program".

"EURUSD remains hanging at the 1.30, but the change in European data should eventually weigh on the common currency, driving EURUSD towards 1.26", UBS says.

Apr 24, 2013

Forex Flash: UK to avoid triple-dip recession after rising 0.1% in Q1 - RBS

The National Statistics is scheduled to publish the UK Q1 GDP report on Thursday at 8:30 GMT (9:30 London time) and market is expecting the UK to publish a weak 0.1% QoQ growth in the Q1, and 0.3% in year basis. RBS analysts expect the same 0.1% increase in the quarterly basis but they are more optimistic with 0.4% growth year to year.

Session Recap: Ugly US data weight the Dollar; USD/JPY remains below 100.00

The Greenback traded lower on Wednesday against its major competitors as investors were cautious on the back of an ugly US durable goods data that surprised market. Italy has done a new step to normalization after president Napolitano called Enrico Letta to form government.