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Risk Assets

Dollar Down

The US dollar has been weaker over the European morning so far on Thursday as the bullish impact from Tuesday’s data beat seems to have subsided. A higher than expected ISM Non-Manufacturing reading boosted USD sentiment. However, with equities continuing their march higher, the impact has faded a little. USD index trades 97.73 last down from prior 97.85 highs.

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EU Economy To Weaken

EURUSD has been firmer against USD today, benefiting from weakness in the greenback. The absence of key data this week has left EUR in limbo. Today, traders received the latest set of EU economic forecasts which made for miserable reading. The EU economy is forecasted to endure a period of “subdued growth” and “muted inflation” following the seven-year rebound just seen. Nevertheless, EURUSD is in the green today, trading 1.1076 last.

BOE In Focus

GBPUSD has been higher today also, helped along by weakness in the US ...

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