Wednesday's economic calendar won't be turning any heads given the absence of first tier data across the board. Instead, the focus will be on global risk sentiment and broad appetite, or lack thereof for the US Dollar. US tax reform updates and the Trump Asia tour are in focus.

Five day performance v. US dollar

Currencies

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EUR/USD stays on the back foot and trades in negative territory below 1.0700 as investors await US PMI data. Earlier in the day, the data from Germany and the Eurozone showed that the private sector lost growth momentum in early June, making it hard for the Euro to hold its ground.

EUR/USD News

GBP/USD struggles near 1.2650 after UK PMI data

GBP/USD struggles near 1.2650 after UK PMI data

GBP/USD is struggling to stage a rebound from the monthly low it set below 1.2650 on Friday. The mixed PMI data from the UK limits Pound Sterling's upside, despite the stronger-than-expected Retail Sales data for May. US PMI data are coming up next.

GBP/USD News

Gold extends rebound to fresh two-week-high above $2,360

Gold extends rebound to fresh two-week-high above $2,360

Gold continues to stretch higher and trades at its highest level in two weeks above $2,360 after posting strong gains on Thursday. Falling US Treasury bond yields and the cautious market mood support XAU/USD ahead of US PMI data.

Gold News

Bitcoin retraces to crucial support

Bitcoin retraces to crucial support

Bitcoin price encounters resistance at weekly highs before retracing to seek support at a crucial level, while Ethereum and Ripple align closely with Bitcoin's movements, gearing up to surpass resistance barriers and embark on upward rallies.

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US S&P Global PMIs Preview: Economic expansion set to extend into June

US S&P Global PMIs Preview: Economic expansion set to extend into June

The S&P Global Manufacturing PMI is forecast to edge lower to 51.0 from 51.3 in May, and the Services PMI is expected to retreat to 53.7 from 54.8. A reading above 50.0 presents an expansion in the sector’s business activity.

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