EUR to remain firm on the crosses - ANZ

Analysts at ANZ noted the EZ 0.6% q/q rise in Q1 real GDP has raised expectations that ECB stimulus may finally be raising the pace of growth.

Key Quotes:

"The ECB would welcome these expectations as it has argued that growth is too slow to lift inflation which is oscillating around zero (April -0.2% y/y).

The reported cyclical upswing in Q1 has lent the euro support and the euro can remain firm on the crosses in the near-term."