What to watch for on Friday, May 27:
The US dollar attempted a modest recovery early on Thursday but ended the day with losses against most major rivals. Weak US data and a rally in equities helped safer rivals.
The second estimate of US Q1 Gross Domestic Product growth was revised down to -1.5%, worse than the previous estimate of -1.3% and disappointing market expectations of -1.4%.
The EUR/USD pair is nearing its weekly high at the end of the day, trading around 1.0720. GBP/USD is trading just below 1.2600. The Canadian dollar was one of the strongest, with USD/CAD trading at 1.2770, as oil prices rose. WTI settled at $113.90 a barrel. The AUD/USD pair, for its part, remained stable at the 0.7090 zone, unable to take advantage of the rise in Wall Street.
Gold oscillated between gains and losses, ending the day little changed at around $1,852 a troy ounce.
Among the US indices, the Nasdaq Composite was the best performer, rising about 3%. The S&P 500 and the Dow Jones Industrial Average rose 2% each.
Source: Fx Street
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