 Dollar weakens broadly weakening in the early US session following the release of a batch of economic data. Durable goods orders presented a mixed bag. Concurrently, continuing claims for unemployment benefits rose to their highest level in more than two-and-a-half years. Despite these indicators, there is no immediate cause for alarm. Instead, traders, observing the Dollar's inability to extend its near-term rally against Euro, appear to be lightening up their positions ahead of the upcoming PCE inflation data tomorrow and the end of the first half. Adding to the cautious sentiment is the upcoming French parliamentary election on Sunday, which is contributing to market jitters. The potential political shake-up in France could have significant implications for the Eurozone, prompting traders to adopt a wait-and-see approach... |
