U.S. Stocks Push Higher As Euro Reaches 3 Month High Against Dollar

dreamstimeU.S. stocks are moving higher on Thursday and the euro is trading at a 3 month high against the dollar following yesterday’s weaker than expected U.S. retail sales report for April that points to weakness in the U.S. economy as currency traders bet that an interest rate hike won’t be coming in June.

Greek government officials will hold meetings today and tomorrow with their euro area creditors.

ECB President Mario Draghi will join IMF Managing Director Christine Lagarde in Washington on Thursday and speak on a panel as questions linger about whether Greece can successfully qualify to receive its final €240 billion bailout funds after Greek leaders have been slow to adopt reform measures for its cash strapped economy.

Today at noon the Senate will vote on a stand alone customs and enforcement bill containing language about currency manipulation and trade preference for sub-Sahara Africa.

Later in the afternoon, Senators will vote to end a filibuster on the motion to advance the free trade package which comes one day after Senate leaders reached a deal on Wednesday to renew President Obama’s free trade deal.

-Johnathan Schweitzer

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