EUR/USD Forecast: all eyes on US GDP

[Lahcene Ouled Moussa]

•  The EUR/USD pair fell down to a fresh weekly low of 1.1291 during the past Asian session, as Chinese stocks have closed in the green. The Shanghai Composite advanced 5.34%, not actually enough to confirm the turmoil is over, but at least enough to bring some relief to worldwide investors.
• European stocks are also firmer, following the strong gains posted on Wednesday by Wall Street, weighing on the EUR. Earlier in the day, macro data showed that German import prices fell in July by 1.7% compared to the previous month, mostly due to oil slump. Also, EU money supply expanded in July, up 5.3% yearly basis, quite normal in the wake of ECB ongoing QE.