Will EURO Traders Look Past Double Dip Recession?

The three most important event risks on this week’s calendar are FOMC, U.S. and Eurozone first quarter GDP. On Wednesday, we learned that while the Federal Reserve is optimistic, they still want to see more improvements in the economy before setting the stage for tapering. Today, U.S. first quarter GDP growth beat expectations with the economy growing 6.4 percent between January and March, up 4.3% from the previous quarter. In response, investors bid the dollar higher against euro and the Japanese Yen but the greenback’s performance versus other currencies was mixed. This tells us that the enthusiasm from … (full story)

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