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Friday, May 22nd
Yesterday, the European leaders, including Greece Prime Minister Alexis Tsipras, France president Francois Hollande and Germany chancellor Angela Merkel arrived to Riga, Latvia for a two-day summit in order to discuss extension of the euro zone’s bailout to Greece. EUR/USD moved up 0.15% on Thursday reaching the level of 1.1154. One session earlier, the euro was below 1.11 against the U.S. dollar for the first time in May. Currently, the single currency is traded at 1.1156 and continues its upward move after the positive data on Germany’s GDP (YoY).
The U.S. dollar index was down 0.01% to 95.46 against the basket of six major currencies. The more dovish data from FOMC meeting on Wednesday still influenced the strength of the greenback. Moreover, the U.S. Department of Labor reported last week’s rise of new jobless claims by 10,000 to 274,000, which was worse than expected.
USD/JPY was down during the Asian session traded at 121.03. The BoJ board voted to keep the monetary policy unchanged earlier today.
Later in the day, the market will be paying attention to speeches of ECB President Draghi, Bank of England Governor Carney and Fed Chair Yellen.
Higher volatility is also expected for the USD/CAD today along with the release of data for Core Retail Sales (MoM) and the Core CPI (MoM) in Canada.
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