EUR/USD made its biggest drop since May 7 today. The popular currency pair continued its decline that has started on Tuesday and will probably last until it reaches 1.5300-1.5400 levels. EUR/USD went down from 1.5647 to 1.5533.
Preliminary GDP for the first quarter of 2008 increased 0.9% the same pace as the market analysts predicted and slightly faster than 0.6% growth in Q4 2007.
Initial jobless claims werent as good as traders were expecting they rose from 368k (revised up from 365k) to 372k.
Crude oil inventories were down 8.8 million barrels last this fact will probably keep oil prices up for the rest of the week.
