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EUR/USD ends week flat, unable to break 1.1000
EUR/USD is about to end a five-week positive streak with a slight loss. The Euro failed to rise above 1.1000, but it held above 1.0900, despite some bouts of dollar strength, including on Friday after the upbeat US S&P Global PMI figures.
Gold steadies around $1,980; down $20 for the week
Gold price bottomed at $1,971 on Friday, after the release of better-than-forecast US S&P Global PMI; and then rebounded to $1,980. The yellow metal dropped $20 from the level it had a week ago, suffering the worst weekly fall since February.
Global Growth Prospects Continue to Improve
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.