EUR/USD (a 4-hour chart)
The U.S. currency showed strength against its major competitors last week. The EUR/USD lost some positions at 0.25 % after negative statistics release. The France and Germany manufacturing sector PMI index came out worse than median the forecast was which confirms the regional economy leading business negative trend. In the light of this we saw a European currency gradual weakening during the week.
The GBP/USD also remained under some pressure after the 1st quarter revised GDP data publication. The second estimate remained unchanged at 0.8 % qoq, while the industrial production growth and net exports were revised to decrease by 0.1%. The investors decided that the reason was the British pound high rate and began its active selling. As a result, the GBP/USD ended the last trading day lower by 0.2%.
The steady demand in global equity markets cheered the USD/JPY "bulls" to open long positions. It didn’t spoil the investor’s mood and moderately negative report on sales in the United States secondary housing market. The index rose by 1.3 % in April which is worse than the economists forecast. It should be noted that even though the final figures could not held up to the market participants expectations – nevertheless the housing market in April showed an increase after three consecutive months of falling, which means increased consumer confidence in the United States.