Euro Surge Continues; Bitcoin Back Near Record Highs
This week’s DailyFX European preview looks into how the raft of European data will impact the markets on Monday morning with PMI manufacturing, services, composite flash PMI due from France, Germany and the Eurozone. Daily FX analyst Nicolas Cawley explains how EUR/USD may respond given the sell off after the ECB meeting midweek.
Another important piece of data to watch is the UK preliminary GDP reading after the British economy suffered a sharp slowdown in the opening months of this year – falling to 0.2% in the first quarter from 0.7% in the previous quarter. Nicolas talks us through the GBP/USD chart and what moves might be in store for the pair. Monday is also the beginning of the post Brexit UK/US trade deal talks and the pressure is on Prime Minister Theresa May to thrash out a lucrative deal and the US President Donald Trump has already hinted that this could be done very quickly.
Elsewhere in the world, the Bank of Japan will publish its meeting minutes on Monday and on Wednesday the US Fed interest rate decision takes place. Plus, Bitcoin is also on everyone’s radar after a tremendous week of gains along with its digital peers.
--- Written by Katie Pilbeam, DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.