Euro Bounces from Lows, Waits for Economic Data

The euro bounced today after opening sharply lower due to the financial crisis in Turkey. The current trading session was light on other events, including economic releases, but tomorrow’s session will be different, with plenty of macroeconomic data from the eurozone.
Turkey’s crisis rattled all the markets, but European ones especially. European banks have strong exposure to Turkish assets, making them especially vulnerable.
Tomorrow, there will be plenty of economic releases from the eurozone. Most important of them will be eurozone gross domestic product, German GDP, and the German ZEW economic sentiment. Experts had predicted that the data will confirm slowdown of economic growth in the eurozone, while the German indicators should show an improvement.
EUR/USD traded at 1.1397 as of 17:21 GMT today after closing at 1.1408 on Friday, opening at 1.1370 and touching the daily high of 1.1433 today. EUR/GBP rose from 0.8921 to 0.8935 today after closing at 0.8930 on Friday. USD/JPY closed at 128.03 on Friday, opened at 125.60, and traded at 126.16 at the time of writing.

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