On Thursday, the U.S. dollar fell sharply vs. a basket of major currencies as voting on the U.S. healthcare bill was delayed, supporting uncertainties about the Trump’s ability to enact policy changes. Meanwhile, the Commerce Department said in its final assessment that the Gross domestic product increased at a 1.4% annual rate instead of the 1.2% reported last month.
However, the U.S. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose as much as 1.1%, the weakest reading since the second quarter of 2013.
The Single currency edged up to a 14-month high, settling to $1.1430, boosted by hawkish comments by ECB Chief Mario Draghi as he said the recovery was broad. Markets are awaiting important releases from Euro-zone, which are German Unemployment Rate, Euro-Zone Consumer Price Index and the U.S. Personal Consumption Expenditure Core.
Gold managed to pare its gains as the U.S. economy slowed less sharply in the first quarter than initially expected. The yellow metal settled at $1,245, in anticipation of important releases, which will be released by today.
Also on Thursday, oil prices failed to settle above $45.
The most important economic events:
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