Forexlive European FX news wrap 8 May - U.K. holiday for Charlie suppresses European vol

  • Forex news from the European morning session on May 8, 2023

It's been a very quiet start to the week, with the UK having the day off to celebrate the coronation of Charlie.

Global shares edged up in light trading on Monday, ahead of U.S. inflation data this week that could prove instrumental in setting expectations for the outlook for monetary policy.

Reuters Before The Bell: U.S. stock index futures edged higher ahead of key inflation data expected in the week that would offer more cues on the Federal Reserve's monetary policy path. European shares rose, with energy and bank stocks leading the way. In Asian equities, Japanese shares ended lower as investors sold stocks as the yen strengthened against the dollar and concerns over the U.S. banking sector persisted. Oil prices rose as U.S. recession fears fade. Gold prices ticked up as the dollar eased.

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