EUR/USD Surges Nearly 1% This Week—Could Trade Optimism Outsmart Weak US Data and Rewrite Market Rules?
Sentiment remains upbeat as the latest trade news suggests that the US and the European Union (EU) may be close to a deal. The economic docket in the US revealed that Durable Goods Orders disappointed investors, after posting stellar double-digit figures in May, as indicated by the US Department of Commerce. Nevertheless, strong jobless claims figures, despite weaker manufacturing activity as shown by the S&P Global Manufacturing PMI, sparked investors’ reaction to discount a less dovish Federal Reserve at next week’s meeting.
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