The Mexican Peso is struggling to find direction against the US dollar and may be looking at a period of consolidation as the US dollar decides its next move.
EUR/GBP is setting up to test 0.8700 on a combination of Euro weakness and Sterling strength. Important support nears and will have to stand firm to prop up the ailing pair.
The price of gold is back under $1,700/oz. as markets switch their attention to riskier asset classes. A bid for gold however remains as central banks keep pumping cash into the system.
Gold remains under pressure despite the current risk-off theme, as wild price action in the oil complex casts a dark shadow over risk assets.
The latest EUR/USD pullback off its April low is coming under increasing pressure as the medium-term moving average proves difficult to overcome.
The USD/MXN price broke over 2% higher in early turnover as risk-adverse investors sought the safety of the US dollar once again. Recent high prints in the pair may now come under pressure.
The month-long sell-off in EUR/GBP continues with bullish signals hard to find. The path of least resistance continues to suggest lower prices ahead.