US data sent very mixed messages yesterday to a market seeking validation of recent dovish Fed speculation. 1Q GDP was revised again, showing an even bigger quarter-on-quarter annualised contraction of -0.5% compared to the previously reported -0.2%.
The 1.20 level is within reach for EUR/USD, but it’s mostly US factors that hold the key to the next move, ING's FX analyst Francesco Pesole notes.
The NZD/USD pair gains ground for the fourth consecutive day near 0.6065 during the early Asian session on Friday. The uptick of the pair is bolstered by a weakening Greenback amid renewed concerns over the US Federal Reserve’s (Fed) independence.