Gained sharply last week after ECB President Draghi made hawkish comments, while both economies reported mixed economic data. The rate began the week making its weekly low of 1.1171 on Monday after New York Fed President William Dudley said that, “When financial conditions ease, as has been the case recently, this can provide additional impetus for the decision to continue to remove monetary policy accommodation.” Monday’s economic numbers had German Ifo Business Climate print at 115.1 versus an expectation of 114.7, the reading showed its fifth consecutive monthly increase and a level not seen in the index since 1991. U.S. data had Core Durable Goods Orders increase by +0.1% m/m versus +0.4% expected, while the headline number declined by -1.1% m/m compared to an expectation of -0.5%. The pair rallied sharply on Tuesday after ECB President Draghi hinted at winding down its stimulus measures. Speaking in Portugal, Draghi stated that, “Political winds are becoming tailwinds. There is newfound confidence in the reform process, and newfound support for European cohesion, which could help unleash pent-up demand and investment”. Nevertheless, Draghi also said that, “any adjustments to our stance have to be made gradually, and only when the improving dynamics that justify them appear sufficiently secure.” Tuesday’s economic data had U.S. CB Consumer Confidence print at 118.9 versus an expected reading of 116.1. On Wednesday, the rate extended its gains after the EZ M3 Money Supply increased by +5.0% y/y which was in line with expectations. Also, U.S. Pending Home Sales declined by -0.8%, significantly worse than the expected increase of +0.9%. Thursday saw the pair make its weekly high of 1.1444 after German Preliminary CPI increased by +0.2% m/m versus an expected flat reading, while U.S. Final GDP increased by +1.4% q/q versus an expectation of +1.2%. The rate then declined a fraction on Friday as traders squared positions and despite German Retail Sales, which increased by +0.5% m/m versus an expectation of +0.3%, also, EZ CPI Flash Estimate increased by +1.3% y/y compared to +1.2% anticipated. EUR/USD closed at 1.1425, with a gain of +2.1% for the week.