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Counter currency drivers and risk sentiment is likely the reason why we saw the Greenback draw in buyers for the week, pushing it to one of the top spots among the major currencies.

Overlay of USD Pairs: 1-Hour Forex Chart
Overlay of USD Pairs: 1-Hour Forex Chart

United States Headlines and Economic data

Monday:

Tuesday:

Wednesday:

Thursday:

Friday:

  • U.S. Growth of 3.2% Tops Forecasts on Trade, Inventory Boost – Initially a boost to the Greenback due to the headline number, but the deceleration in price growth (0.8% in Q1 vs. 1.7% in 2018 Q4) is likely the reason why the rally reverse, and possibly on the idea that the decline in trade deficit and the business stockpiling will not carry forward to future quarters.