EUR/USD Today: stabilizes, drawing strength from positive German Ifo data as it approaches resistance at 1.0715, signaling a potential economic turning point.
The US dollar index opens higher in Europe, aided by a weak Euro, and is back at highs seen last November. Gold is unfazed by US dollar strength and continues to print new highs.
The latest US NFPs beat expectations by a wide margin, while the closely followed unemployment rate fell. The US dollar gets a bid going into the US open.
The US economy expanded by 3.2% according to the second estimate of US GDP released today, slightly below the initial estimate. In the third quarter the US economy expanded by 4.9%.