Euro remained little changed against the US dollar on Monday, following the release of Chinese GDP report, which showed economy expanded in line with projections.
EUR/USD registered a session low at 1.3045 at 6:52 GMT, after which consolidated at 1.3050. Support was likely to be found at July 12th low, 1.2998, while resistance was to be met at June 25th high, 1.3150.
During weekend, an official report stated that Chinese GDP rose by 7.5% during Q2 on annual basis, matching projections by experts, and slowing down in comparison with the first quarter, when data showed economy expanded by 7.7%. Additionally, Chinese retail sales increased by 13.3% during June on annual basis, up from 12.9% in the previous month, while industrial production fell to 8.9% in June from 9.2% in May.
In Europe, a report said that retail sales in Finland rose by 3.6% in May on annual basis, mismatching the projected 4.5% increase. At the same time, annual consumer price inflation decelerated by 1.4% in June from 1.6% during May.
Meanwhile, the euro was relatively stable against the British pound and the Japanese yen. EUR/GBP cross was down by 0.10% for the day, trading at 0.8644 at 7:21 GMT, while EUR/JPY was trading at 130.02 at 7:21 GMT, up by 0.13%.
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