US dollar edges lower after a wave of economic data ...Middle East

Whenever there are five economic data releases at the same time, there will also be a mixed picture. That was the case today with Q1 GDP revised a tad higher, along with higher inflationary numbers. At the same time, corporate profits in the report were taken down and durable goods orders non-defense ex-air (a good forward-looking metric) were soft at -0.6% vs +0.1% expected.The latter numbers appears to have stuck with the market with initial jobless claims relatively in line and trade balance set to be a small drag on Q2.The result was a 15-pip rise in the euro against the US dollar and minor US dollar selling elsewhere.The Fed funds futures market is pricing in 45 bps of cuts this year an

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US dollar edges lower after a wave of economic data ...Middle East

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