Euro pauses its fall against the US Dollar but remains under pressure. DXY up 0.11% after retreating from the top, on its way to highest close in months. The EUR/USD pair bottomed earlier today at 1.1116, the lowest level since mid-2017. During the American session bounced to the upside, amid a correction of the US Dollar and rose to 1.1155. It failed to hold on top of 1.1150 and approached daily lows again. As of writing trades around 1.1130, modestly lower for the day, about to post the third loss in a row and the lowest close since June 2017. While the greenback continues to be among the top performers, the euro holds to its weakens on the back of soft EZ data. The US Dollar Index (DXY) peaked today at 98.27 before correcting lower to 98.15. “Our best guess is that recent developments are more a redefining of new (lower) ranges for currencies rather than the beginnings of a new meaningful multi-week trend that sends the USD materially higher. That, however, does not preclude a test of 1.10 in EUR/USD and a DXY at 100; if anything it seems more likely than not in the near term, especially if S&P cuts Italy’s sovereign rating when they complete their review this week (currently BBB, two-notches above junk)”, wrote Richard Franulovich, Head of FX Strategy, at Westpac. US Data ahead of Friday’s GDP Data released today showed an increase of 2.7% in durable goods orders in March, surpassing expectations. “Core capital goods orders””a key leading indicator of future business spending””rose 1.3% in March, suggesting the economy may be carrying momentum into the second quarter. But, the fall in core capital goods shipments (down 0.2%) still suggests a weak outturn for business spending in tomorrow’s first estimate of Q1 GDP“, said Wells Fargo analysts. In a different report, initial jobless claims increased by 37K from the previous week’s revised level to 230K, the highest since February, against expectations for 200K. On Friday, no relevant economic reports are due from the EZ. In the US, the first estimate of Q1 GDP will be released. Market consensus point to a reading of 2.1%. “We note greater uncertainty in Q1 GDP than usual, thanks largely to the government shutdown over December-January, which led to delayed salary payments for 800,000 federal employees, and disruption to tax refunds and regulatory approvals“, explained Bill Diviney, senior economist at ABN AMRO. Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY around the 200-DMA and markets look to key forthcoming data FX Street 4 years Euro pauses its fall against the US Dollar but remains under pressure. DXY up 0.11% after retreating from the top, on its way to highest close in months. The EUR/USD pair bottomed earlier today at 1.1116, the lowest level since mid-2017. During the American session bounced to the upside, amid a correction of the US Dollar and rose to 1.1155. It failed to hold on top of 1.1150 and approached daily lows again. As of writing trades around 1.1130, modestly lower for the day, about to post the third loss in a row and the lowest close… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.