Analysts at ANZ explained that US data releases continued to impress with the May Philadelphia Fed index providing further evidence of accelerating momentum.
"Interestingly, bond yields and the USD didn’t respond and paused for breath after the strong moves seen recently. But sentiment around the US remains buoyant."
"European leaders met in Sofia and were united in their position over their response to US tariffs and Iran."
"Brussels is prepared to negotiate on trade with the US and discuss WTO reform, but there must be no threat of tariffs. Europe is committed to the Iran agreement."
"Washington did not respond and the focus there was very much on the resumption of trade talks with China."
"Risk assets were generally supported."
"The FTSE 100 rose 0.7% to close at a record high, while the DAX and CAC 40 finished up 0.9% and 1.0% respectively. Initially that sentiment was reflected in US stocks too, although gains have been pared as tech stocks weigh, with the S&P 500 down 0.2% at the time of writing."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.