Investors’ morale remained supported during the European session, but softened late during the US one, with Asian bourses following suit. It seems that market participants may have decided to lock some profits ahead of US President Trump’s conference on China. With regards to the data releases, the most important ones may be Eurozone’s preliminary inflation data for May and Canada’s GDP for Q1, which could add to the case of more stimulus by the ECB and the BoC.
INVESTORS TURN CAUTIOUS AHEAD OF TRUMP’S CONFERENCEThe US dollar traded lower against all the other G10 currencies on Thursday and during the Asian morning Friday. It lost the most ground against NOK, SEK, AUD, and EUR in that order, while it underperformed the least versus CAD, JPY and NZD.
US Against Majors Daily Performance
The weakening of the dollar, combined with the fact that the yen was among the main losers, suggests that risk appetite remained supported for another day. However, the risk-linked was also…
