World Market News of the 31 May with FXOpen #dollarindex #oilprices #eurostoxx #eurostoxx50

Dollar Steadies Before Inflation Test The dollar was licking wounds against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data. Official data showed overnight that the U.S. economy grew at an 1.3% annualized rate from January through March, down from the advance estimate of 1.6% after downward revisions to consumer spending. The dollar index, which measures the currency against six major peers, consolidated around after dipping as low as overnight. Source: Reuters Oil Extends Decline with Supply in Focus Before OPEC Meeting Oil fell for a third day as a key market gauge highlighted oversupply concerns before an OPEC supply meeting on Sunday. Brent crude for August was near $82 after sliding 1.9% on Thursday, while West Texas Intermediate traded below $78 a barrel, with both headed for a monthly drop. The prompt timespread for Brent we