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EUR/USD records mild loss in May

Even though EUR/USD rallied toward a 3-week high of 1.3060 on Thursday, the euro failed to sustain gains and is on track to close the week below the 1.3000 mark, although it has managed to hold onto positive ground.
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EUR/USD unable to find follow through above 1.3000

After trading sharply higher the two previous days, EUR/USD was unable to find any additional follow through and finished the day down 48 pips at 1.2996. It will be a busy day of economic data out of the EU with a number of PMI reports due out in the coming session.
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