The German IFO Business Climate came out at 102.2 points, slightly above expectations of 102 points in May after 102.1 in April. The EUR/USD dropped below 1.1700 ahead of the publication as the US Dollar gained ground amid a risk-off atmosphere.
The second release of Q1 GDP was expected to confirm the initial read of 0.1% QoQ and 1.2% YoY. The GBP/USD was trading lower, around 1.3340, ahead of the publication.
The US Dollar is trading up 0.2% at around 109.50 against the Japanese Yen as the risk-off sentiment on the markets disipates at the end of the week, while Japan’s core inflation missed the expectations rising only by 0.5% over the year in Ku area of Tokyo in May.
Bitcoin price fell below $7,300 handle before the recovery took it back above $7,600. The digital currency No. 1 is changing hands at $7,618, marginally unchanged on the day. On daily basis Bitcoin price lost %%, while market value settled at $129B.
Ripple goes on with Bitcoin's trend despite positive news related to Revolt adoption of XRP. The coin has recovered from $0.5750 low touched on Wednesday, now trading at $0.6250.
Monero price has settled at $173.30, having recovered from Thursday's low at $160.30. Monero is currently the 13th largest coin with a total market value of $2.7B and trading volume over $40M.
Ethereum dropped to $543 on Thursday before buyers appeared and pushed the price above $600 handle. The second largest coin with market value $59B has lost over 17% of its value from the recent peak at $724.80
GBP/USD is the mover of the day with Brexit transition period agreement pushing Sterling above $1.4000 level for the first time since February 26 this year.
Euro rose against the US Dollar in tandem with Sterling while risk inverse Japanese Yen fell back above 106.00 as the major event for this week is the Federal Open Market Committee meeting this Wednesday that is expected to deliver 25 basis points rate hike with fresh dot-pot macro prediction and first conference of new chairman Jerome Powell.Read Full Report