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ICBC Global Market: FX Market Update - May 26, 2017
 

Decreasing U.S. jobless claims last week showed a strong labor market, but a widening trade deficit in April pressured economic growth in the second quarter. The Organization of the Petroleum Exporting Countries agreed to extend the deal for 9 months, but maintained the output cut unchanged. The dollar index, which tracks the greenback against six major rivals, inched down 0.01 percent at 97.248 on Thursday. The euro fell 0.07 percent to $1.1209 against the greenback. Against the yen, the dollar was up 0.30 percent at 111.82. The euro is expected to meet resistance and support against the dollar at $1.1299 and $1.1005 respectively, while the dollar is expected to meet resistance and support against the yen at 113.00 and 109.67 respectively.

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(2017-05-26)
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