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EUR/USD is about to end a five-week positive streak with a slight loss. The Euro failed to rise above src.src000, but it held above src.0900, despite some bouts of dollar strength, including on Friday after the upbeat US S&P Global PMI figures.
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Gold steadies around $src,980; down $20 for the week
Gold price bottomed at $src,97src on Friday, after the release of better-than-forecast US S&P Global PMI; and then rebounded to $src,980. The yellow metal dropped $20 from the level it had a week ago, suffering the worst weekly fall since February.
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Given the sheer size and influence of China’s economy, upward revisions to China’s growth outlook can have positive implications around the world and boost our global GDP forecast. With China’s economic rebound still intact, another global GDP growth upward revision could be forthcoming.
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