Support
Dollar cools off, Asian currencies strengthen
Investors will now turn to Canada’s CPI data and the US CB consumer confidence later today.
EUR/USD steady at $1.0725; GBP/USD held gains near $1.2687.
Gold traded below $2,330, consolidating near $2,326; pressured by PBOC halting gold purchases.
Oil prices continued to trend higher, Brent was last seen near $85 per barrel
Currencies
The dollar cooled to 105.47, whilst Asian currencies strengthened, and the Japanese yen gained some ground amid speculation about government intervention and potential rate hikes by the BoJ.
The EUR/USD was steady to $1.0725 and the GBP/USD pair held gains near 1.2687.
Commodities
Oil prices continued to trend higher, Brent was last seen near $85 per barrel, while WTI was steady near $81.
Gold prices traded below the $2330, consolidating near $2,326. The bullion has been under pressure ever since the PBOC announced halting its gold reserve purchases, keeping it unchanged in May at 72.8 million ounces, the same level as in April.
Additionally, the potential for a trade war between China and the West escalated as Europe imposed import tariffs on Chinese electric vehicles.
Investors will now turn to Canada’s CPI data and the US CB consumer confidence later today.
