Earlier today, EUR/USD extended losses after data showed that Germany’s manufacturing index slipped to 52.1, while the final reading of Markit’s manufacturing PMI declined to 52.0 from March's 10-month high of 52.2. These disappointing numbers pushed EUR/USD below 1.1200, but will we see further deterioration in the coming week?

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Although the USD Index bounced off session’s lows and came back above 95 after yesterday’s positive job data, this improvement was only temporary and the index moved lower in the following hours. How did this move affect major currency pairs?

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Earlier today, the U.S. Department of Labor reported that the number of initial jobless claims in the week ending April 25 dropped by 34,000 to 262,000, beating analysts’ expectations for a 6,000 decline. Thanks to these bullish numbers, the USD Index bounced off session’s lows and came back above 95. In response to this increase, USD/JPY reversed and rebounded sharply, reaching the resistance line. Will we see another increase to 120 in the coming days?

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Earlier today, the Commerce Department showed that U.S. gross domestic product increased only by 0.2% in the first quarter, slowing from 2.2% in the fourth quarter of 2014. This slowest rate of growth in a year pushed the USD Index well below 96, which translated to higher values of EUR/USD and GBP/USD. How high could these currency pairs go in the coming day(s)?

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Last week’s disappointing U.S. data on employment, home sales and industrial production weighed on investors’ sentiment, pushing back expectations on a first rate hike in June and making the greenback weaker. Thanks to these circumstances, AUD/USD extended gains and broke above important resistance levels. How high could the exchange rate go in the coming days?

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