EUR is stable in a limited range of trading near the lowest level in two weeks against USD, we expected the continued weakness of the trading till the important economic data issued from the United States, and the data which issued today in German observed the biggest economic growth in Europe according to the expectation during the first quarter of 2017
The first reading of the total local production in German recorded a growing 0.6% during the first quarter of 2017, according to the expert’s expectation by 0.6% every season, and the German economic records a growing by 0.4% during the fourth quarter of 2016
USD trades in limited range
On Friday the USD index stable in the Europe market within a limited range of trading near the highest level in three weeks, and the investor want to build a new trades with the USD, and waiting for a lot of important economic data from the United States, especially the customers prices data and retail sales, and that will explain the improvement of the biggest economic growth in the world during the second quarter of 2017, and this data will enter with some federal reserve members remarks in the rating process of the probability of increasing the USD interest prices next month.
At 13:30 GMT the customer’s prices index in April will be issued with an expectation increasing by 0.3% from a decreasing by 0.3% in March, except the food and oil with an expectation increasing by 0.2% from a previous decreasing by 0.1%.
At the same time the retail sales issued with an expectation increasing by 0.6% in April from a decreasing by 0.2% in March, and the retail sales will be issued except the food and oil in the same month with an expectation increasing by 0.5% and the last reading recorded increasing by 0.0%.
And the first reading of Michigan university index will be issued to measure the customer’s trust during May with am expectation level 97.0 points with the same final reading in April.
At 13:00 GMT the president of the federal reserve Charles Evans “in Chicago” will speak at the international conference at the Irish capital Dublin about the economic conditions and monetary policy, and at 16:30 GMT the president of federal reserve Patrick Harker ” in Philadelphia” at Drexel university in Philadelphia will speak about the economic aspirations.