Today we have European Union GDP figures and Retail Sales data in the United States coming out. Both are very important reports. Stock markets continue its fall overnight and the U.S. dollar index continues its advance.
The number of Americans filing for unemployment benefits unexpectedly rose last week to the highest level in more than a year, raising further concerns about the health of the labor market in the wake of a slowdown in job gains in April.
Today intraday price action should be the most important and it looks like that USD can move even higher as we see both in the Euro/U.S. Dollar (EU/RUSD) currency pair and USD/CHF in corrective pullbacks. Fifth waves are expected, down to 1.1360 on Euro and up to around 0.9740 on USD/CHF.