Earlier today, the Australian Bureau of Statistics reported that new motor vehicle sales dropped by 1.5% in the previous month. Thanks to these disappointing numbers and a stronger greenback, AUD/USD slipped under 0.8000. Will we see further deterioration in the coming week?

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Although, the Federal Reserve Bank of New York reported that its Empire State manufacturing index rose less-than-expected (to 3.9, missing forecasts for an increase to 5.00), the USD Index extended gains and came back above 94. Will today’s data on U.S. industrial production and consumer sentiment support further improvement? Before we know the answer to this question, let’s take a closer look at current picture of our six currency pairs.

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Earlier today, the U.S. Department of Labor showed that the number of initial jobless claims in the week ending May 9, dropped by 1,000 (beating analysts’ expectations for a 10,000 gain), but yesterday’s disappointing data continued to weigh on investors’ sentiment. In this environment, the USD Index extended declines, which pushed USD/CAD to a fresh four month low and the long-term support line. Will it encourage currency bulls to act in the coming days?

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Earlier today, the U.K. Office for National Statistics reported that the unemployment rate slipped to 5.5%, hitting the lowest level since September 2008. Additionally, U.K. average earnings (without bonuses) increased by 2.2%, beating expectations for a 2.1% increase. Thanks to these solid numbers, GBP/USD extended gains and hit a fresh 2015 high. How high could the exchange rate go in the coming days?

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Earlier today, Greece repaid a €770 million loan installment to the International Monetary Fund, easing worries that the country was on the verge of default, which in combination with a renewed selloff in European government bond pushed EUR/USD sharply higher. In this way, the exchange rate reached its important resistance zone, but will we see further improvement?

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