Tuesday’s softer US Retail Sales data has fueled a round of broad based US Dollar selling, with the market looking for yet another excuse to price more Fed rate cuts than less in 2024.

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EUR/USD retreats to 1.0700 area following post-PCE jump

EUR/USD retreats to 1.0700 area following post-PCE jump

After spiking to a daily high of 1.0720 with the immediate reaction to US PCE inflation data, EUR/USD lost its traction and declined to the 1.0700 area. Investors remain cautious ahead of this weekend's French election and make it difficult for the Euro to gather strength.

EUR/USD News

GBP/USD stays below 1.2650 after US inflation data

GBP/USD stays below 1.2650 after US inflation data

GBP/USD struggles to preserve its bullish momentum and trades below 1.2650 in the American session on Friday. Earlier in the day, the data from the US showed that the annual core PCE inflation declined to 2.6% in May, limiting the USD's upside and helping the pair hold its ground.

GBP/USD News

Gold keeps its daily gains near $2,330 following US PCE data

Gold keeps its daily gains near $2,330 following US PCE data

Gold prices maintain their constructive bias around $2,330 after US inflation readings gauged by the PCE matched consensus in May and US yields advance slightly across the curve.

Gold News

BTC struggles around the $62,000 level

BTC struggles around the $62,000 level

Bitcoin price faces pullback resistance at the lower band of the descending wedge around $62,000. Ethereum price finds support at $3,288, the 61.8% Fibonacci retracement level. Ripple price faces resistance at $0.500, its daily resistance level.

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French Elections Preview: Euro to suffer after the calm, as specter of extremists, uncertainty rise Premium

French Elections Preview: Euro to suffer after the calm, as specter of extremists, uncertainty rise

The first round of French parliamentary elections is set to trigger high uncertainty. Soothing messages from the far right and far left leave the Euro vulnerable to falls. Calm may return only after the second round of voting on  July 7.

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