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The EUR/USD is eyeing the 1.916 resistance, following the European Central Bank's interest rate cut from 4.50% to 4.25% and higher-than-expected U.S. initial claims, which totaled 229,000 for the week ending June 1.  Traders are expected to keep a close watch on this currency pair due to the upcoming release of significant economic data, including the Non-Farm Payrolls, which could potentially impact currency valuations.

The Pound Sterling has been showing a sustained upward trend for the fourth consecutive week, indicating a positive trajectory characterized by a series of higher highs and higher lows. This trend is occurring in anticipation of the ECB Interest Rate Decision and the release of the Non-Farm Employment Change. Traders are expected to closely monitor the currency pair in light of the forthcoming release of significant economic data that could potentially impact currency valuations.

The USDJPY currency pair remains on an upward trajectory despite the formation of the recent corrective wave. The mixed PMI data on Monday sparked rumors of a potential interest cut in September as monetary policy poses obstacles to expansion.

Nvidia Corporation, an American technology company based in Santa Clara, California, is a pioneer in accelerated computing and a major manufacturer of high-end graphics processing units (GPUs). For the first quarter that ended April 28, 2024, the company reported revenue of $26.0 billion, which represents an 18% increase from the previous quarter and a remarkable 262% increase from a year ago. Additionally, the company announced a 10-for-1 stock split, scheduled to take effect on July 7, 2024.

The EURUSD is on the rise due to recent data indicating a Q1 2024 expansion of the German economy. Additionally, the University of Michigan's consumer sentiment revealed 1-year inflation expectations of 3.3%, down from the preliminary 3.5%. Traders will closely monitor the currency pair this week due to the release of significant economic data that could potentially impact currency valuations. 

The USDCAD is following a bearish trend before the release of important inflation data later today. Despite recent price movements in Gold and Silver, the Canadian dollar remains below the 50-period Exponential Moving Average. Traders will closely monitor the USDCAD this week due to the upcoming release of significant economic data that could impact currency valuations.

Gold has been approaching the all-time high of $2431.45 per troy ounce as the U.S. Bureau of Labor Statistics reported a decrease in the Consumer Price Index (CPI) in April following three consecutive increases. Traders will be keeping a close eye on the market as significant economic data that can potentially affect the economy's health will be released next week.

Crude Oil prices decreased in response to a Producer Price Index that exceeded expectations, ongoing inflationary pressures, geopolitical uncertainty, a weakening US Dollar Index, and delays in anticipated interest rate reductions by the Federal Reserve. The Consumer Price Index and Retail Sales reports will be released later today, with high expectations. Traders will closely monitor the Crude Oil price this week as significant economic data that could affect its direction will be released.