Potential for the further rally due to the relative strength on in the energy sector this morning.
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EUR/USD stays below 1.1200 ahead of EU inflation data
EUR/USD struggles to gather recovery momentum and trades in a narrow channel below 1.1200 on Friday after the data from the Eurozone showed that the annual HICP inflation softened to 2.2% in August. Investors await PCE inflation figures from the US.
GBP/USD advances toward 1.3200 ahead of US PCE data
GBP/USD is gaining ground in the European trading hours on Friday, approaching 1.3200 as risk sentiment remains in a sweeter spot. Traders, however, could refrain from placing further bets on the pair ahead of the all-important US PCE inflation data.
Gold stretches mini-range after strong US data caps upside
Gold trades mixed on Friday, edging up to trade in the $2,520s as the European session progresses. The precious metal started the day down after market sentiment turned positive following the release of surprisingly upbeat data from the US.
Easing Eurozone inflation to back an ECB rate cut in September Premium
Eurostat will publish the preliminary estimate of the August Eurozone Harmonized Index of Consumer Prices on Friday, and the anticipated outcome will back up the case for another European Central Bank interest rate cut when policymakers meet in September.
US core PCE inflation could help markets gauge how big will be Federal Reserve’s September rate cut
The United States (US) Bureau of Economic Analysis (BEA) will release the high-impact core Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s (Fed) preferred inflation gauge, on Friday at 12:30 GMT.
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