EUR/USD is still ranging making this week pretty calm compared to some previous weeks which showed us an amazing volatility and trendiness. The main reason for this slow Forex market I can see in the rather neutral economic releases we’ve seen this week. While the number and the market importance of these releases were relatively low. Today the most important data were initial jobless claims which appeared 14K above expected number — 324K against 314K for the previous period (10K increase). Leading indicators, which usually don’t do much for the Forex came 0.1% higher than expected — at the level of 0.3%. Federal Reserve Bank of Philadelphia manufacturers report showed a notable improvement in May.
