Beige Book still downbeat; Weak or worsening conditions thorough May

Source: www.forexlive.com

No green shoots to speak of in the Beige Book.

Conditions weak or worsened through May Expectations improved but big gains in activity not expected through year-end Labor markets stayed weak Wages falling or flat Residential real estate still weak Retail sales soft credit improved 5 of 12 districts show moderating downward trend Demand for natural resources remain depressed

Stocks remain under pressure, helping support the dollar further. EUR/USD has broken 1.3930 support. USD/CAD stops are eyed above 1.1200.


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