Sterling rallied slightly in early trading on Thursday with some recovery from over-sold conditions with GBP/USD above 1.3350.
EUR/USD found support below 1.1700 later in US trading on Wednesday.
Previous revised slightly to -1.1% from 1.2% Year-on-year increase 1.4%, expected 0.1% Core increase 1.3%, expected 0.4% Core year-on-year increase 1.5%, expected 0.1%
GBP/USD trades around 1.3370, EUR/GBP at 0.8770 Retail sales data due at 04.30 ET, monthly increase expected 0.8%, -1.2% previously Year-on-year increase expected 0.1%
Minutes from May’s Federal Reserve policy meeting stated that it would soon be appropriate to raise interest rates again, reinforcing very strong market expectations of a June rate hike.
EUR/USD dipped to 5-month lows of 1.1685 ahead of the New York open and rallied made very little impression amid underlying weak sentiment.
March figure revised down to 0.672mn from 0.694mn Monthly change -1.5%, expected -2.0%
Services index 55.7, expected 54.9 Composite output index 55.7, expected 55.0
After finding support just below 1.2750 on Tuesday, USD/CAD has secured further gains during the past 24 hours.
After losing ground on Tuesday, the US currency has made fresh headway on Wednesday, although the overall performance has been mixed.