FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD fell down to a fresh 2-week low of 1.1134, despite a Greek deal that is under way and improved Eurozone economic growth.
Key Quotes:
“With the Greece problem out of the way, investors seem to have focused in the imbalance between economic policies between both economies, as whilst the ECB is buying €60bn per month, the FED has already announced at least two quarter point rate hikes in the way.”
“In the meantime, European stocks surged strongly and yields eased from their latest highs, also reverting their last 3-weeks trend. In the US, data resulted mixed, as Durable Goods Orders for May resulted worse-than-expected, printing -1.8% against a 0.6% drop.”
“Nevertheless, orders for business equipment rose, indicating demand for American-made manufactured goods is stabilizing. New Home sales however, rose the highest level in seven years, whilst the Markit Manufacturing PMI registered 53.4, the lowest reading since October 2013, but still above the 50 threshold that indicates economic expansion.”
(Market News Provided by FXstreet)