by Finimize Newsroom
Finimize
What’s going on here?
The US dollar lost ground amid a flurry of economic reports and remarks from Federal Reserve officials, while the euro, pound, and yen all strengthened.
What does this mean?
With the market honing in on April’s home sales data, the US dollar has been pushed down against major currencies. Investors have their ears peeled for insights from Federal Reserve leaders at the Financial Markets Conference, where key figures like the Fed’s Vice Chair and New York Fed President are speaking. Meanwhile, US market-watchers await a series of economic data throughout the week, including the Philadelphia Fed’s report and unemployment figures, culminating in Thursday’s pivotal home sales numbers. Abroad, the euro and yen have gained as markets eye upcoming central bank meets and economic indicators.