What you need to know on Tuesday, May 18:
The week started with an extension of risk appetite triggered by US retail sales on Friday, but the good mood faded as the day wore on. Most of the European and US indices closed in bearish numbers, as inflationary concerns linger in the background. Government bond yields rose intraday, but ended the day unchanged.
The dollar remained under selling pressure, although a poor macroeconomic calendar kept the main pairs within familiar levels. EUR / USD hovers around 1.2160, approaching its May high at 1.2181, while GBP / USD hit 1.4146, holding close as UK reopens propped up the pound.
The Australian dollar remained within familiar levels against the dollar, while the loonie strengthened along with oil and despite the bitter tone of stocks. AUD / USD bulls stayed on the sidelines ahead of the release of the RBA Meeting Minutes after Australian politicians announced that they will review their policy next July amid stubbornly low inflation.
Gold hit a new 3-month high of $ 1,868.39 a troy ounce, its highest level since February 1, ending the day nearby, while WTI stood at $ 66.20 a barrel.
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