EURO the most traded currency of the week. German inflation on the agenda

Euro German Inflation

In forex, the EUR as the second most popular reserve currency in the world remains near higher against a basket of six major currencies. The currency has appreciated some 1% since yesterday, boosted by the service sector reporting its strongest expansion for the year.
This week economic calendar is fully loaded with high impact German and Euro data releases that at probably going to decide how will move the EUR. Friday Traders will be reading the German Job release and inflation data.

World Indices

Wall Street had a bad Monday session (S&P-500 -0,30%) caused by a weak bond market as well as the release of Flash Manufacturing PMI higher than expected at 50.4 VS 49.0, on other hand we had remarks of the U.S. central bank governor that domestic recovery has progressed “more quickly than generally expected and looks to be strengthening”.
Investors await this week the unemployment claims from the US which will give a new direction to the Dollar.
Asian stocks were pushed down on Tuesday morning as a -1.15% increase in Chinese blue chips was caused China factories activity reading its lowest Level since January 2023. Concerns about less liquidity in the Asian financial markets started to increase.

Economic Calendar Today

The day is light with economic releases due to bank holidays in Australia and New Zealand, later in the day, the announcement regarding Customer confidence in the US is expected at 5:00pm GF Markets trading time.

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