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Rupee remained dropped as pressure after bids form oil importers after crude prices continued to rise and on likely foreign portfolio outflows from local debt market.
Prices of the safe-haven gold fell on Monday in Asia as stocks rose on strong China data and a U.S.-Mexico agreement.
GBPUSD (1.2565) • UK House Prices fell 0.2% in May, for a 0.6% advance in the year, according to the Nationwide’s survey.
EURUSD (1.1144) • German state CPI data point to a moderation in inflation pressure in May after CPI advanced strongly in Apr; preliminary national CPI data are released at 8.00ET.
Rupee ended with gains on likely FII inflows into local debt and stocks and tracking the plunge in crude oil prices.
Gold prices had a strong week across the board to finish out May, but it’s clear based on both the weekly and monthly performances over various XAU-crosses that risk appetite is continuing to erode.
GBPUSD (1.2688) • The big—but hardly surprising—news from the UK today is that PM May has announced she is stepping down as party leader of the Conservatives on June 7th.
EURUSD (1.1191) • EURUSD dipped to test the 1.11 area yesterday following the disappointing Eurozone PMI data but managed to recover
Prime Minister Narendra Modi’s thumping election victory is dividing analysts on India’s rupee.
Gold rose for a third day as concerns that the U.S.-China trade war is hurting global growth damps risk appetite.