Disappointing Friday’s data took the USD Index below 97, extending Thursday’s decline. As a result, USD/CHF declined to its key support line. Will it withstand the selling pressure in the coming week?

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Yesterday, the U.S. Department of Labor said that the number of jobless claims in the week ending April 18 increased by 1,000 to 295,000, missing analysts’ expectations for a 4,000 drop. Additionally, yesterday’s data showed that U.S. new home sales dropped 11.4% in March, also missing forecasts for a 5.3% decline. Earlier today, official data showed that U.S. durable goods orders rose 4.0% in the previous month (beating expectations for a 0.6% gain), but core durable goods orders without transportation items fell 0.2% missing expectations for a 0.3% rise. These disappointing numbers pushed the USD Index below 97, extending yesterday's decline. How did this downward move affect the major currency pairs?

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Earlier today, official data showed that the Gfk German consumer climate index increased to 10.1 in April, missing analysts’ expectations. As a result, EUR/USD declined below 1.0700 and approached the long-term support line once again. Will it encourage currency bulls to act in the coming days?

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Earlier today, the minutes of the Bank of England’s April meeting showed that policymakers voted for keeping rates unchanged at a record low 0.5%. This news supported the pound against the greenback and pushed GBP/USD to the solid resistance zone. Will we finally see a successful breakout and higher values of the exchange rate?

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Earlier today, the minutes of the Reserve Bank of Australia suggested a possible rate cut in the near future, which pushed the Aussie lower against the greenback. As a result, AUD/USD declined to the support lines. Will they withstand the selling pressure in the coming days?

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