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May 27, 2021 20:51 GMTFXStreet News
EUR/USD fluctuates in a narrow band on Thursday.
US Dollar Index steadies around 90.00 after US data.
Focus shifts to Friday’s key data releases from the EU and the US.
Following Wednesday’s decline, the EUR/USD pair seems to have gone into a consolidation phase and remains on track to close little changed around 1.2200.
Eyes on Friday’s high-tier data
Earlier in the day, European Central Bank (ECB) Governing Council member Pablo Hernandez de Cos said that the rise in inflation in the euro area was transitory but this comment failed to trigger a meaningful market reaction. Meanwhile, Bundesbank President Jens Weidmann argued that it was crucial to keep fiscal support measures targeted and limited in time. “It must be clear to everyone that we are not putting monetary policy at the service of fiscal policy,” Weidmann added.
May 27, 2021 18:56 GMTFXStreet News
XAU/USD continues to edge lower after failing to close above $1,900.
Rising US Treasury bond yields weigh on gold in the second half of the week.
US PCE inflation preview: Gold remains key asset to watch.
The XAU/USD pair reached its highest level since early January at $1,912 on Wednesday but ended up closing the day in the negative territory below $1,900 pressured by rising US Treasury bond yields. With the T-bond yields extending the rebound into the second straight day on Thursday, gold’s correction continued and XAU/USD was last seen losing 0.3% on the day at $1,890.
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GBP/USD Weekly Forecast: Time to hit highest level since 2018? US data, UK vaccines keyANALYSIS |
5/21/2021 3:15:19 PM GMT
GBP/USD has been grinding its way higher amid twin Fed and UK reopening speculation.
Cable is set to move in response to British covid figures, US GDP and other data.
Late May s daily chart is still pointing to a lead for the bulls.
The FX Poll is pointing to a short-term rise before falls later on.
To taper or not to taper? That has been the question for the Federal Reserve and the dollar, while uncertainty about the UK reopening played a role in moving the pound. US economic releases such as GDP and Durable Goods Orders are set to rock the greenback in the last full week of May.