Jun 25: American session
Tatiana Norkina, an analyst at FBS
The dollar is weakening in early U.S. session after the release of negative statistics. Thus, the country's GDP in the last quarter has changed significantly to the worse, to -2.9%, while analysts forecast a decline of only 1.7%. The previous change was -1.0%. In addition, durable goods orders became 1% smaller (forecast: growth of 0.2%). As a result, the dollar index dipped to 80.14 and is currently losing about 0.25%. Stock markets show a positive trend at the opening: DJIA adds about 0.20%, while the S & P500 - 0.10%.
Apparent weakness of the dollar is obviously seen in the currency markets as well: EUR/USD soared to 1.3650; GBP/USD pair is testing 1.7000. Currency pair USD/CHF fell to the support 0.8910, USD/JPY broke 101.80 and is testing the next important level of 101.60 now.