XE Market Analysis: North America – Jun 05, 2018

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The dollar has traded mixed, holding net steady against the euro and yen, losing ground to the pound following a strong services PMI release out of the UK, while gaining against the Canadian and Australian dollars. EUR-USD lost upside traction, with the pair reverting to a narrow oscillation of the 1.1700 level. Data out of the Eurozone today have inspired some chop but little net directional impact. Eurozone retail sales came in sub-forecasts at 0.1% m/m in March, and the final May composite Eurozone PMI came in unchanged at 54.1.