The U.S. dollar was seen recovering from the losses on Thursday. The reversal came following the release of the FOMC meeting minutes.
Economic data on the day showed that the ECB officials were concerned about the risks of the uncertainty from the global trade policies. However, officials remained fairly optimistic that growth would remain firm.
Economic data saw the release of the flash manufacturing and services PMI from the Eurozone. While the flash service PMI was in line with expectations, manufacturing activity showed a slight slowdown. In the U.S. new home sales rose 627k missing estimates of 643k. The previous month’s figures were revised higher to show 638k print.
The economic data for the day will see the release of the German final GDP figures for the second quarter. Economists forecast no change with the German GDP expected to rise 0.5% during the three months ending June.
Later, in the NY trading session, the U.S. durable goods orders report will be released. Core durable goods are forecast to rise 0.5% by following a 0.2% gain in the previous month. Headline durable goods orders are expected to show a 0.7% decline during the month. This marks a 0.8% increase in the previous month.
The annual Jackson Hole Symposium is expected to start off today. The Fed Chair Jerome Powell is expected to speak today at the event.
