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EUR/USD clings to modest gains above 1.0750 ahead of Fedspeak
EUR/USD clings to small gains above 1.0750 on the first trading day of the week. In the absence of high-tier data releases, investors will scrutinize comments from central bank officials. Later in the week, inflation data from the US could trigger a big reaction.
GBP/USD edges higher toward 1.2550 ahead of key data releases
GBP/USD inches higher toward 1.2550 in the second half of the day on Monday. Ahead of Tuesday's labor market data from the UK and April inflation report from the US on Wednesday, the modest US Dollar (USD) weakness helps the pair hold its ground.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold loses traction, declines toward $2,340
Following the upsurge seen in the second half of the previous week, Gold stages a downward correction and declines toward $2,340 on Monday. The benchmark 10-year US Treasury bond yield stays near 4.5% and makes it difficult for XAU/USD to extend its uptrend.
Here’s what needs to happen for The Graph price to revisit $0.422
The Graph price consolidation below a key hurdle shows that it is ready for a volatile move. With GRT retesting the upper limit of its rangebound movement, chances of an upside breakout are high.
Waiting for US inflation to give fresh direction
China continues to struggle with its own demons. Released during the weekend, the data showed that CPI rose, PPI contracted and the aggregate financing in China fell for the first time in history on the back of slower government bond issuance.