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EUR/USD drops below 1.0700 ahead of key US PCE inflation
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 stays defensive below 1.2650, awaits US PCE data
GBP/USD stays on the back foot below 1.2650 in European trading on Friday. Traders ignore the upward revision to the UK Q1 GDP data, refraining from placing any directional bets ahead of the key US PCE inflation data.
Gold sellers refuse to give up, as US PCE inflation looms
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
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.
US core PCE inflation set to slow as markets mull Federal Reserve rate cut bets for September
The core Personal Consumption Expenditures Price Index, the US Federal Reserve’s preferred inflation measure, will be published on Friday by the US Bureau of Economic Analysis at 12:30 GMT.