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Editors’ Picks
EUR/USD looks weak in the low-1.1300s
Following the release of the headline US PCE in April, which came in below forecasts, EUR/USD continues to be on the defensive and navigates the low-1.1300s on the back of a decent rebound in the US Dollar. Spot, in the meantime, is expected to enter a cautious mode pre-ECB meeting in the next week.
GBP/USD comes under pressure, back near 1.3470
The selling momentum now gathers pace around the British Pound, sending GBP/USD to the area of 1.3480-1.3470 at the end of the week. This occurs in the midst of an acceptable bounce in the Greenback, as investors continue to evaluate the lower-than-expected US PCE readings.
Gold keeps its offerd bias unchanged around $3,300
Gold remains on the defensive around the $3,300 mark per troy ounce in the wake of weaker-than-estimated US inflation data for April. In the meantime, trade uncertainty and lower US yields seem to limit the metal’s downside.
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