Ian Morley – Page 74 – Total Currency Exchange

The euro experienced early trading weakness due to investor reactions following the European Parliament elections.

As widely anticipated, the ECB reduced interest rates from 4% to 3.75%.

Another day brings another weak report from the US, with the ADP payrolls coming in below expectations.

US job openings decreased more than anticipated in April, signalling a continued gradual slowdown in the US job market.

The primary mover today was the USD, which weakened across the board following a lower-than-expected ISM manufacturing number in the afternoon.

A surprising increase in eurozone CPI led to gains in the EUR, raising doubts about potential rate cuts this year.

1 … 73 74 75 … 90

Author: Ian Morley