Weaker EURO in the Making ahead of the expected thin trades due to US long Weekend Holidays

TILL NOW, , the Euro has TRADED FLAT in Asian trade, with the market BEING JUST TRADED AT 1.2350 . Look to see some squaring up of positions into the month-end, and also look for more rumors, market chatter, official comments, and press reports to dominate the headlines. Our best recommendation over the next few sessions is to stand aside, and only look to get involved if absolutely necessary

There is still a large amount of fear and uncertainty surrounding the outlook for the global economy, and as such, we do not recommend looking to exit USD long positions, and would rather look to buy the Greenback on any dips against all of the other major currencies, including the Yen.

And, lest we become too caught up in the flippant and often short-term swings in investor sentiment; there was also a round of data for dollar traders to weigh in on as well. The second reading of US GDP does not carry the same volatility potential of the first go; but the more accurate details are important for establishing the reliability of projections. The headline reading was a disappointment – slowing to a 3.0 percent pace of annualized growth when it was expected to accelerate. On the other hand, with personal consumption still at a two year high, the data was still supportive. Sticking with the American consumer, April personal income and spending data is due for release tomorrow.

So again be cautious due to the expected THIN TRADES  ahead of the long Friday weekend with Memorial Holidays, Stay aside if possible.

Happy trading