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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: ...
Global growth will be driven this year by a rebound in advanced economies that benefit from lower oil prices, while the economic situation will remain sluggish in the emerging market and developing economies, the International Monetary Fund said in a repor. In its twice-yearly World Economic Outlook, the IMF retained the world growth forecast for this year at 3.5 percent. The lender raised the growth forecast for next year to 3.8 percent ...
Trading the News: U.K. Jobless Claims Change Another 30.0K decline in U.K. Jobless Claims paired with a hawkish Bank of England (BoE) Minutes may spark a near-term rebound in GBP/USD should the fundamental developments boost interest rate expectations. What’s Expected: Why Is This Event Important: At the same time, Average Weekly Earnings are projected to increase an annualized 2.2% after climbing 2.1% ...
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