President Trump tweeting ahead of the GDP release that it will be a strong number most probably over-hyped it and may have contributed to underwhelming the market, which sold off the dollar immediately after the data was released. The 4.1% reading was one-tenth less than consensus. The ECB was also in focus last week. As expected, monetary policy was left unchanged, while the central bank’s President Mario Draghi said nothing new during the press conference. This led to a high selloff in the euro on Thursday.
NFP and central banks in focus
Weekly Report - 30/07/2018