The US Dollar weakened on Thursday hit by the recent decline in the GDP figures while US stocks extended the rally as investors’ worries are fading away.
All major indexes were up on Thursday, with the Nasdaq entering a bull market after advancing more than 20% from December’s low.
Later today, traders will be looking for the latest monthly change in Eurozone inflation. The Consumer Price Index is expected to remain unchanged at 0.8%. In the meantime, the eurozone unemployment rate is seen at 6.7%.
In the US, both Chicago PMI and personal spending are set to decline from 43.6 to 43.4 and from 1.8% to 0.3% respectively.
Finally, analysts are seeing an increase in Canada’s GDP, the Canadian economy is expected to have grown by 0.3% compared to -0.1% previously.
Below, we will be analyzing the latest price action developments in the major currency pairs alongside gold.