It's been a lacklustre session in terms of economic data and newsflow. The only notable data releases have been the Spanish GDP which beat expectations and the ECB survey on consumer inflation expectations that showed another dip for the 1 year ahead measure.
In terms of price action, we had the US dollar remaining supported across the board, while the stock markets erased some of yesterday's losses. The other markets remain mostly rangebound as we await the FOMC decision and the key US data like the NFP and CPI.
Meanwhile, we have also the US-China talks in Stockholm as they try to resolve their disputes and de-escalate the trade war further. No major breakthrough is expected but the two sides will likely agree on another 90-day extension to keep the negotiations going and avoid an escalation.
In the American session, we have the US Job Openings and the US Consumer Confidence coming up. The Job Openings are expected at 7.500M vs 7.769M prior. The labour market data has been showing a 'low hiring, low firing' environment as businesses have been potentially waiting for more clarity on tariffs. Now that we have more of that clarity, it's going to be interesting to see how the data evolves.
The US consumer confidence is expected at 95.0 vs 93.0 prior. We have already seen a bounce from the April lows as the de-escalation in the trade war gathered pace. This report is more biased towards the labour market as opposed to the UMich one which is more skewed towards the consumers' financial situation
This article was written by Giuseppe Dellamotta at investinglive.com.Hence then, the article about investinglive european fx news wrap us dollar remains supported stock markets back up was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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