A quiet start for the week upon us, especially after the dollar managed to end Friday bearish.
We have more light data from the US economy this week while the focal concern is to Wednesday's minutes of the last FOMC meeting which concluded a two days meeting on the 30th of April where the feds decided to cut rates by 25 basis points to 2.0% and as the vote was opposed by two members where they preferred steady rates.
The only piece of information on the housing this week will be existing home sales which is expected to show more declines as Americans are still not lured strongly into the markets. A survey showed that expectations for the American economy to rise from recession was by September which is the end of the third quarter as once assumer the second is the last, while now more economist see that the US is in or might be falling into a recession that previously thought.
Rest a shore that thought the week sounds quiet from the US yet other economies may take the lead and as well we have heavy earnings on Wall Street this week so do not miss out on all the details…