On the data front, Monday was relatively uneventful, but the unexpected decline of the US Empire Manufacturing for May inveitably couldn’t go unnoticed. Actual figures came out at -1.0, compared to a previous 5.2 and widely missing expectations of 7.5. This index has grown to become an early indicator of overall US manufacturing.
USD remained weak throughout Monday’s session and is this morning entering what could be its third consecutive day in declines. The US Dollar index (DXY), an index measuring the strength of the USD agianst its counterparts, is currently at 98.80 which figure corresponds to the lows seen throughout yesterday’s session.
Meanwhile the euro continued to firm and we see the EURUSD approach last week’s highs, the currency pair is currently at 1.0989.
On today’s economic docket we have UK CPI, German Zew Survey, and EZ GDP amongst the data with the highest impact.
