The world’s base currency enjoyed a mixed session to close out last week as investors and markets responded to a softer than expected GDP report paired against stronger than anticipated consumer spending. Fourth quarter gross domestic product expanded just 2.6%, a read well below analysts’ expectations and a considerable retraction on the 5% growth enjoyed in the 3rd
quarter of 2014. The weaker than estimated reading puts pressure on interest rate expectations and raises questions surrounding the strength of the overall economic recovery. U.S data flows were mixed throughout the last quarter of last year opening the door for suggestions economists have overestimated the strength of the world’s largest economy. Still, the divergence in Monetary Policy will lend support to the Greenback throughout the months ahead as Europe and Japan struggle to fight deflation.
Attentions this week turn to Manufacturing, Trade Balance and Non-Farm Payroll reports for direction amidst a raft of Political speculation as the new Greek Prime Minister, Alex Tsipras, begins his tour of European finance ministers in a bid to write down Greek debt obligations. French, German and Dutch spokesman have all clearly stated that while they are open to negotiate and alleviate the pace of repayments there will be no cancellations.Data releases
AIG Manufacturing Index, MI inflation Gauge and Commodity Prices y/yNZD
Final Manufacturing PMI View more currency reports