This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Risk Assets

USD Down on Thursday

The US dollar has been lower over the European morning on Friday. Following Monday’s manufacturing data, the absence of any key data has left the greenback a little directionless over the week.

Looking ahead to today’s US session, the focus will be on the Philly Fed manufacturing reading which is forecast to have ticked lower from the last print. USD index trades 96.86 last.

EUR Higher on USD Weakness

EURUSD has been a little firmer today in light of the weakness in USD. Despite the recovery on Thursday, the euro remains rangebound on the week and the outlook is still bearish in the short term, given the weakness in key data. EURUSD trades 1.1131 last.

BOE in Focus

GBPUSD is trading very quietly ahead of the BOE meeting today. While the central bank is not expected to adjust its monetary policy, the market is keen to hear its latest assessment and outlook following the UK elections.

With data still trending lower, the bank’s message will likely be dovish, raising d...

To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Tagged on: