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Sunset in Bali, Uluwatu
The EUR/USD closed the week at 1.1199 after touching a two month high. The dollar extended its gains against the pound from Thursday’s session after weaker-than-expected manufacturing report. It has recovered most of its losses from earlier in the week. Economic data released Thursday showed Chicago-area manufacturing activity expanding for the first time in three months, weekly jobless claims falling to their lowest level in 15 years, and a larger-than-expected increase in a closely ...
The euro scaled a three-weak peak against the dollar on Monday, on optimism about Greece’s prospects after the government reshuffled its bailout negotiating team as the cash-strapped country seeks to avoid a default. Greece looks set to run out of funds in the coming weeks. On Monday, Greek Prime Minister Alexis Tsipras appointed Deputy Foreign Minister Euclid Tsakalotos, an economist well liked by officials representing creditors, as ...
- Will the Bank of England’s (BoE) Inflation Report (May 13) Highlight a Slower Recovery? Trading the News: U.K. Gross Domestic Product (GDP) The U.K.’s 1Q Gross Domestic Product (GDP) report may dampen the appeal of the British Pound and undermine the near-term rebound in GBP/USD as the growth rate is expected to increase an annualized 2.6% after expanding 3.0% during the last three-months of 2014. What’s Expected: ...
- U.S. Durable Goods Orders to Rebound 0.6.% in March. - Non-Defense Capital Goods Orders ex Aircrafts to Climb 0.3% After Contracting -1.4% in February. Trading the News: U.S. Durable Goods Orders A 0.6% rebound in orders for U.S. Durable Goods may heighten the appeal of the greenback and spur a bearish retraction in EUR/USD as it raises the fundamental outlook for the world’s largest economy. What’s Expected: ...
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