May 28: European session
EUR/USD is trading in the $1.3620. Data released in the euro area today was mostly disappointing. The number of unemployed people in Germany rose, French consumer spending declined. German import prices also fell, while the increase in the euro zone’s Money supply was lower than expected. GBP/USD fell to $1.6745. UK released lower CBI realized sale.
There is little on the data calendar for the rest of the day. Tomorrow the US will release its second estimate of Q1 GDP, widely expected to be revised lower from the initial 0.1% rise.