The U.S. dollar continued to trade mixed while the euro currency maintained its strong position. Sentiment in the euro remained firm following the ECB’s Chief economists comments about a possible discussion on QE exit at next week’s meeting.
Sentiment in the U.S. dollar was also subdued with Mexico announcing trade tariffs on exports from the U.S. while the EU is also expected to hit back at the U.S. with a similar response.
On the economic front, the Eurozone fourth quarter GDP was confirmed at 0.4% as widely expected.
Economic data for the day ahead will see the industrial production figures from Germany and trade balance data as well. This is followed by data from France.
The European trading session is relatively quiet with no major releases of impact. In the NY trading session, the Canadian jobs report will be coming out. Economists expect to see the unemployment rate staying unchanged at 5.8% and expect 19.1k jobs that will be added during the month of May.
