The US and Euro related news are topping the headlines in the markets today….
The US dollar lost some ground against its peers as their Treasury yield fell sharply. But their June Initial jobless claims declined to 222,000 while their consumer credit increased by a moderate $9.3bn in April.
The Euro’s recovery remained intact amid expectations that the European Central Bank would begin withdrawing their stimulus programme. However, Eurozone GDP data released last night confirmed that the economy expanded at weakest pace since 2016, expanding by 0.4 per cent only in the first three months of this year.
The financial markets will have a platter full of upcoming events to digest starting with the Group of seven summit scheduled for this weekend; where trade issues between the US and its major trade partners will come into focus.