Daily Morning Report 24/04/2015
The euro edged lower against the U.S. dollar today, as the greenback mildly recovered from the previous session’s downbeat U.S. data and investors eyed an upcoming report on durable goods orders.
Elsewhere, The dollar came under pressure yesterday after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits increased unexpectedly by 1,000 to 295,000 last week from the previous week’s total of 294,000. Data also showed that U.S. new home sales dropped 11.4% last month to 481,000 units, compared to expectations for a 5.3% fall to 513,000 units.
Also, Euro showed little reaction to Thursday’s report by market research group Market saying that the euro zone’s composite purchasing managers’ index, which includes manufacturing and services activity, fell to 53.5 this month from 54.0 in March, compared to expectations for a rise to 54.4.
The euro also remained under pressure as the Greek government was no closer to reaching an agreement with its euro zone partners and the International Monetary Fund over economic reforms required to access remaining bailout funds, fuelling fears that the country could be forced out of the eurozone.