The USD had gained on all majors today with EURUSD under 1.1250, Cable under 1.3000  and USDJPY over 112.00. However the weaker PMI numbers and a miss for the Philly Fed index took the shine off the Greenback. 

 

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EUR/USD holds its ground amid mixed EU election results

EUR/USD is stable around 1.1200 amid mixed EU elections in which main parties lost ground to both centrist and extreme ones.  Trump said he hopes for a deal with China. Liquidity is thin due to a UK holiday.

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GBP/USD ticks up as Brexit and Remain parties are balanced

GBP/USD is trading around 1.2750, recovering. Farage's Brexit party won the EU elections but a trio of Remain parties matched him. Uncertainty remains high after PM May's resignation announcement.

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USD/JPY keeps gains near 109.50 amid light trading

The USD/JPY pair is on the bids near 109.50 ahead of Europe open on Monday. The 110.55/60 resistance-confluence including 100-day simple moving average (SMA) and 23.6% Fibonacci retracement of January to April rise acts as strong upside cap.

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The Evolution of Three Issues are Key in the Week Ahead

As May winds down, the light economic calendar will allow investors to take their cues from the evolution of three disruptive forces--trade, Brexit and the US economy.  With actions against Huawei and possibly a handful of Chinese surveillance equipment producers, the US raised the stakes.

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Gold aims to revisit $1289/90 despite UK/US holiday

With the pessimism surrounding global trade developments and greenback weakness joining EU election results, Gold prices are on the bids near $1287.30 while heading into the European session on Monday.

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