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The EUR/USD pair seesaws around 1.1030 after a volatile US session. The pair is trading at 1.1026 at the time of writing. On Thursday, the first readings of the US Gross Domestic Product (GDP) for the first quarter (Q1) of 2023, also known as Advance readings, marked mixed outcomes.
Headline US GDP Annualized eased to 1.1% from 2.0% expected and 2.6% prior, but the GDP Price Index inched higher to 4.0% on an annualized basis.
The Personal Consumption Expenditure (PCE) Prices for Q1 rallied to 4.2% from 3.7% in previous readouts, whereas the Core PCE figures also crossed 4.8% market forecasts and 4.4% prior with 4.9% mark for the said period.
The banking fallout risks also prod the Euro bulls previously, while the mixed EU data defended the buyers.
US banking fallout fears regain momentum amid reports that the First Republic Bank (FRB) plans to sell half its loan book to fill a $100B deposit flight gap. Eurozone Consumer Confidence improved for April, but Business Climate eased for the said month.
