Here is what you need to know on Friday, May 31: Following the choppy action seen on Thursday, major currency pairs hold steady early Friday as investors gear up for key data releases.
Eurostat will publish the Harmonized Index of Consumer Prices and the US Bureau of Economic Analysis will release the Personal Consumption Expenditures Price Index for May. First-quarter Gross Domestic Product data from Canada will also be watched closely by investors. Although safe-haven flows continued to dominate the financial markets on Thursday, the US Dollar struggled to gather strength against its rivals as US Treasury bond yields corrected lower. After rising 0.
00 early Friday. The data from Japan showed that the Tokyo Consumer Price Index climbed to 2.2% on a yearly basis in May from 1.8% in April. GBP/USD staged a rebound on Thursday and closed above 1.2700. The pair stays relatively quiet and moves up and down in a narrow band at around 1.2720 in the European morning on Friday. Gold benefited from the pullback seen in US Treasury bond yields and registered small gains on Thursday.
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