Euro, British Pound Lose Ground as Market Sentiment Falters, U.S. 2Q GDP on Tap
The Euro pulled back on Friday and slipped to a low of 1.2980 during the overnight trade as investors scaled back their appetite for risk, and the shift in mark sentiment could lead the EUR/USD to retrace the advance from earlier this week as the economic docket is expected to show the world’s largest economy expanding at a slower pace in the second quarter.
Crude Oil Rises on Bargain Buying, Gold’s Fate In the Hands of Investors
A very interesting week with regard to commodities saw crude oil inventories surge to levels just shy of 10-year highs and gold ETF holdings plummet 500,000 troy ounces. Nevertheless, the near-term outlook for both commodities is highly uncertain.
Japanese Yen Poised to Extend Gains as Risk Aversion Continues
The Japanese Yen outperformed overnight as carry trades followed stocks lower after a round of disappointing economic data. Equity index futures are sharply lower, hinting more of the same is ahead in European hours.