Currency Market Analysis
Aug 03, 2015 | Currency Market Analysis
Relatively quiet over night as the market awaits key data this week. The Greek stock market plunged this morning after a 5 week shutdown brought on fears the country was about to dumped from the Euro. This weakened the Euro giving up earlier gains that were attributed to better than expected gains in euro zone factory activity for July. The USD got hit late last week from below par wage growth data that clouded the outlook over when US interest rates are likely to rise. But analysts said the dollar could draw strength from U.S. economic indicators this week, including the Institute for Supply Management's report on U.S. factory activity due Monday and nonfarm payrolls data on Friday.
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