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According to the latest data the Canadian National Railway issued the report showing 11 percent decrease of earnings for the second quarter of the year. The volume of the fall was diminished by the strengthened Canadian currency and growing fuel costs but still turned to be quite unexpected one.

As US traders return to the markets following the Memorial Day holiday, a spate of economic releases will await them. Much of the event risk for the US dollar will likely come from weakening in the housing sector, consumer confidence, and durable goods orders. On the other hand, Thursday’s Q1 GDP release is forecasted to reflect an upward revision, which could prove to be a huge boon for the greenback. Meanwhile, euro traders should keep an eye on German labor market figures and those holding Canadian dollar positions should beware of Friday’s Canadian Q1 GDP report.