During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Greenback slumps vs. euro ahead of G7 summit
On Thursday, the evergreen buck declined against most currencies of developed countries, including the common currency and the Japanese yen ahead of the G7 gathering at the level of heads of state and government in Canada.
The common currency hit $1,1805 in contrast with $1,1774 at the close of previous trading session. Previously, the euro managed to tack on nearly 0.5% in this pair and got to a peak of two weeks.
The surge of the common currency keeps backing the statements of the leaders of the EU’s key financial institution as for the likelihood of completing the quantitative easing program before the end of 2018.
Meanwhile, versus the Japanese national currency, the evergreen buck dived to about 110.04 yen from 110.18 yen.
Against the Japanese yen the euro demonstrated a reading of 129.88 yen versus 129.74 yen just the day before.
As for the ICE Dollar Index, it slumped about 0.1%.
As a matter of fact, the summit of the "Group of Seven" is expected to burst out on Friday in La Malba (Quebec, Canada). Moreover, it’s anticipated that one of its key themes are going to be the trade disagreements of six G7 participants with the United States because of American tariffs on steel as well as aluminum.
The evergreen buck found itself under pressure because the tension in trade matters seems to go up before the G7 gathering. Uncertainty over the outcome of the gathering is edging up. It is due to the fact that there’s a clear clash between the United States of America and other nations. That’s what some market experts uncovered.
By the way, Larry Kadlow, American economic adviser dared to call the given trade disagreement before the G7 highly anticipated summit a banal family quarrel.
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
The level of non-farm payrolls, also known as non-farm employment change or NFP will be out on June 7, at 15:30 MT time.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…