The US stock market was closed on Monday due to the Memorial Day holiday. On Friday, the Dow Jones fell by 0.01%, the S&P 500 rose by 0.03%, and the NASDAQ added 0.08% to its value. The US dollar was little changed against the other major currencies on Monday, as the US financial markets were closed for the Memorial Day holiday. Today, the US CB Consumer Confidence is expected at 120.1 versus 120.3 previously and the Personal Spending report is expected at 0.4% vs. 0% previously.
The pound traded higher against the US dollar closing at 1.2831 as polls showed Prime Minister Theresa May expected to in next week elections. On the 4-hour chart, the GBP/USD broke below the bullish trendline with the RSI indicator below the 50 level. Maintaining these conditions could lead the pair towards 1.23, while breaching back above the bullish trendline may take the pair towards 1.31. The euro fell against the US dollar, to close at 1.1146 as Mario Draghi gave no indication of any change to the ECB's forward guidance