Global Forex Market
THE US dollar index continued to be weighed down this week amid the stronger euro following Macron’s win as well as disappointing economic data this week. It dropped 0.9% to close at 99.11 on Thursday. Some upside to the dollar, however, was seen towards the end of the week ahead of President Trump’s announcement of his tax reform plans and after ECB Draghi’s press conference. On the macro front, consumer confidence in April dropped to 120.3 from 124.9. Meanwhile, durable goods orders eased for the second consecutive month to 0.7%m/m in March from 2.3%m/m February.
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