The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1254 – the strongest level since June 19 – as compared to 7.1468 Reuters estimates.
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EUR/USD drops below 1.0700 ahead of key US PCE inflation
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EUR/USD is back in the red below 1.0700 in the early European morning on Friday. The pair reverses the previous rebound amid resurgent US Dollar demand even as risk sentiment remains in a sweeter spot. Markets turn anxious ahead of US PCE inflation and Sunday's French elections.
GBP/USD remains vulnerable near monthly low, US PCE data awaited
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GBP/USD attracts fresh sellers on Friday, though the downside remains cushioned. Traders now seem reluctant to place aggressive directional bets ahead of the US PCE. The technical setup suggests that the path of least resistance remains to the downside.
Gold sellers refuse to give up, as US PCE inflation looms
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Gold price has snapped its rebound from two-week lows early Friday, losing ground after running into offers near the $2,330 resistance again. The next direction for Gold price now remains in the hands of the US Personal Consumption Expenditure inflation data.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC struggles around the $62,000 level
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Friday calendar stacked with first-tier data
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Key standouts on Friday’s calendar come from German import prices, UK GDP, German unemployment, Canada GDP, US core PCE, personal income, personal spending, Michigan sentiment, Chicago PMIs, and Fedspeak.