The FOREX was a little livelier this Friday, after 2 non-volatile sessions: the Euro strengthened by +0.3% against the Dollar (1.0845, i.e. -0.15% for the week) and the Swiss Franc (0.9915), while the Canadian Dollar recovered by 0.5%.
The '$-Index' fell by -0.4% to 104.70, ending the week with a reduced gain of +0.3%.

The Euro seems to have been supported by the rise in the PMI indices: the hoped-for economic recovery could also bring more inflation via wages and import prices (tax war between the EU, the US and China).
The German economy grew by 0.2% in the first quarter compared with the previous three months, thanks to buoyant exports and investment spending, according to detailed statistics published on Friday, confirming the initial estimate.

The dollar could also have been supported by "good figures": US durable goods orders rose by 0.7% in April (after +0.8% in March), whereas they were expected to have fallen by 0.9%.
Excluding defense and aeronautics, they rose by 0.3% versus +0.1% expected, after -0.1% in March.

At 4pm, investors discovered the Michigan consumer confidence index: it came in 1.7Pt higher than expected in May, at 69.1.... but down significantly from April's 77.2.
The prospect of interest rates remaining at their highest for several months to come is weighing on consumer plans.

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