The Turkish referendum and the Chinese GDP growth data will shape up the weekly open, as the European markets will be closed on Monday due to a bank holiday.
There has been decent price squeezes on the currency markets over the past week. The US dollar's plunge marked the start of the week, after US President Donald Trump complained about the US dollar ‘getting too strong’. The yen, the pound and gold breached important technical levels.
The GBP/USD rallied past its 200-day moving average for the first time since November. How could Thursday’s retail sales data affect the pound’s recovery?
Finally, oil inventories rose in the first quarter despite OPEC cuts according to EIA. The latest news could have dented the appetite and threaten the positive trend before reaching the $55 level.