Thursday, May 31, 2007

Euro Narrowly Mixed Against Other Majors Thursday Morning, Thursday, May 31, 2007 7:22:01 AM

The euro was narrowly mixed against other majors Thursday morning in New York, firming up slightly versus the yen while giving back gains to the sterling. Markets players considered data showing that Euro Zone economic sentiment improved in May.

The euro moved roughly sideways around 1.344 against the dollar Thursday morning in New York, staying near a 7-week low from the previous session. Economic data is likely to be in focus on Thursday, with the Commerce Department scheduled to release its preliminary report on first quarter GDP. Reports on weekly jobless claims, construction spending, and Chicago-area manufacturing activity are also due to be released.

The euro improved slightly against the yen Thursday morning in New York after seeing a bit of weakness the previous evening. The euro fetched 163.50 as of 7:15 am ET as traders assessed data showing Japanese housing starts declined 3.6% year-over-year in April.

The euro gave back gains from the previous evening against the sterling Thursday morning in New York, slipping to .6795 from .6811. Trading took place amid the release of data showing that UK consumer credit growth slowed in April.
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