Here is what you need to know on Thursday, May 30: Safe-haven flows dominate the financial markets in the second half of the week, allowing the US Dollar and the Japanese Yen to stay resilient against risk-sensitive currencies. Business and consumer sentiment data for May will be featured in the European economic docket, alongside the Unemployment Rate for April.
The pair struggles to stage a rebound early Thursday and trades slightly below 1.0800. GBP/USD declined sharply on Wednesday and erased its weekly gains. The pair stays on the back foot in the European morning and trades below 1.2700 Rising US yields and the renewed USD strength weighed on XAU/USD on Wednesday and the pair lost nearly 1%. Early Thursday, Gold holds steady at around $2,330.
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