Good Afternoon
The US Dollar has continued to strengthen with
USD.CAD moving marginally higher for the fourth straight day. This
move is led by the overall strength of the US Dollar as this pulls the currency pair
higher as the day goes on.
The EURO.USD weakened this morning as
the US Dollar continued to strengthen and is EURO.USD is now
trading at its lows of the week. The Euro is preparing
itself for the release of German GDP growth
report which are set to be released tomorrow,
this release will add some volatility to Euro trading. We are expecting a year-over-year growth rate of 0.2% anything
less than that should push the Euro lower and give further strength to the US
Dollar index.
Have a great evening
Yonah
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