The US Dollar (USD) managed to reverse part of its recent multi-day pullback on Thursday as investors assessed the stronger-than-expected US business activity readings and the US fiscal front, particularly after President Trump’s sweeping tax bill cleared the House of Representatives.
by Pablo Piovano
FX Street
Here’s what to watch on Friday, May 23:
The US Dollar Index (DXY) partially trimmed losses and left behind three daily drops in a row, coming closer to the psychological 100.00 barrier. Next on tap across the Atlantic will be the release of New Home Sales and the speech by the Fed’s Cook.
EUR/USD came under fresh downside pressure on Thursday, returning to the area below the 1.1300 support. The final Q1 GDP Growth Rate in Germany will take centre stage along the ECB’s Negotiated Wage Growth. In addition, the ECB’s Lane and Schnable are due to speak.