21/ 05/ 2017

Week Ahead | FOMC Minutes & Comey’s Testimony

The Trump Administration has suffered from major scandals. The worst was a memo by now former FBI Director James Comey suggesting that Trump tried to obstruct justice. The dollar weakened across the board, with EUR/AED reaching 6-month highs.

For this week, the meeting minutes from the Fed stand out, alongside updates on US and UK GDP but perhaps the biggest event is the testimony of James Comey. If Comey clearly says that Trump tried to obstruct justice, the dollar could fall. If he denies it or plays Trump’s comments down, the dollar could rise.

18/ 05/ 2017

Troubled Dollar vs Strong Euro

The US dollar has now fully reversed all the initial gains following the election victory for President Trump, providing further evidence of the ongoing loss of confidence in the Trump administration's ability to materially boost US growth.

Euro stills manages to lead across the board with support of strong data from Euro zone. Today’s focus will be on UK Retail sales report and ECB President Draghi’s Speech. Investors will be looking for fresh impetus from Draghi to boost the Euro further.

17/ 05/ 2017

Euro going from strength to strength

Euro extended to fresh 2017 highs yesterday, fueled by another batch of positive Euro zone data while US released soft data. Furthermore, Dollar suffered losses with the scandal surrounding US President Trump, involving classified information being unveiled to Russian diplomats.

Today’s economic calendar will be fueled with reports coming from UK and Euro zone. With no US data scheduled for today it is expected that EUR will continue its positive momentum while Pound is also expected to gain momentum with today’s UK employment data.

16/ 05/ 2017

Euro Zone Inflation Data to support rising EUR

The U.S. Dollar was pressured on Friday after weaker-than-expected U.S. economic reports raised doubts about whether the economy is strong enough to support a number of interest rate hikes by the U.S. Federal Reserve this year.

Moving on for the day German ZEW investor confidence is expected to have improved again and the calendar also includes inflation data from U.K. as well as Eurozone inflation data. Any positive data release can move the market in their favor.