Earlier today, official data showed that retail sales in the euro zone rose 0.4% in April, beating expectations of a 0.1% uptick. Additionally, a separate report showed that German factory orders rose 3.1% in April, well above expectations for a 1.3% increase, after a 2.8% decline the previous month. Thanks to this news, EUR/USD rebounded from the previous session’s low. Does this upswing change the very short-term outlook?

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Earlier today, the U.S. dollar moved higher against its Canadian counterpart after the Bank of Canada left its interest rates unchanged. Additionally, official data showed that Canada's trade balance swung into a deficit of C$0.64 billion in April (while analysts had expected the trade surplus to narrow to C$0.10 billion), which also had a negative impact on the loonie. Thanks to these circumstances, USD/CAD climbed to a one-month high, breaking above an important resistance level. Will we see further rally in the near future?

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Earlier today, the Australian dollar rebounded against the greenback after the Reserve Bank of Australia kept its cash rate steady at a record low 2.5%. Thanks to this news, AUD/USD bounced off the support zone, hitting an intraday high of 0.9285. Did this rally change the very short-term picture?

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Earlier today, the Institute of Supply Management reported that its manufacturing PMI ticked down to 53.2 in the previous month, missing expectations for a rise to 55.5. Despite this disappointing data, the common currency remains under pressure as forex traders remains cautious ahead of the European Central Bank's monthly policy meeting later this week. Because of these circumstances, EUR/USD is still trading between the support and resistance zone. Which of them will be stronger and trigger another sizable move?

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Earlier today, the euro moved higher against the U.S. dollar after the release of mixed consumer sentiment and personal spending reports, approaching the previously-broken resistance. Meanwhile, USD/CHF moved lower, breaking below important support line. What impact did these moves have on the short-term outlook? Did they weighed on the medium-term picture?

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