The EUR/USD pair retreated from 1.0713, a fresh weekly high, and trades at around 1.0680 ahead of Wall Street’s opening.
EUR/USD Current price: 1.0682 The German IFO Survey surprised positively in April, all components improved. March US Durable Goods Orders missed expectations despite improving on a monthly basis. EUR/USD seems poised to resume its slide after a corrective advance. The broad US Dollar’s weakness, triggered by softer-than-anticipated United States data on Tuesday, extended throughout the first half of the day. Meanwhile, stock markets advanced, adding pressure on the USD.
The country will unveil the first estimate of the Q1 Gross Domestic Product next Thursday, which is expected to show that the economy grew at an annualized pace of 2.5% in the three months to March. Also, the US will publish the March Personal Consumption Expenditures Price Index on Friday, the Federal Reserve’s favorite inflation gauge.
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