The dollar started the week on the wrong foot, amid a general improvement in appetite for risk-related assets. Easing inflation figures in China and fresh stimulus helped sentiment amid growing caution ahead of the release of crucial US inflation data.
Here's what you need to know on Tuesday, May 14:
The US Dollar Index (DXY) traded with modest losses, although it managed to maintain trading activity above the 105.00 support. Producer prices will be released on May 14, along with Fed member Lisa Cook's speech and debate with FOMC Chair Jerome Powell.
EUR/USD reclaimed the zone beyond 1.0800 to mark new multi-day highs amid widespread dollar weakness. On May 14, Germany's final inflation rate will be published, to which will be added the economic sentiment measured by the ZEW institute both in Germany and in the Euro bloc in general.
The GBP/USD pair strongly surpassed the 1.2500 barrier thanks to the resumption of selling pressure on the Dollar. The publication of British labor market figures and the BoE's Huw Pill speech are expected on Tuesday the 14th.
USD/JPY continued its march north, advancing towards new highs beyond the 156.00 barrier. The Japanese agenda includes the publication of production prices.
In line with its risk counterparts, AUD/USD faded Friday's decline and surpassed the 0.6600 mark, remaining at the top of the monthly range for the moment. The next featured release in Oz will be the May 15 Wage Price Index.
WTI prices reversed some of Friday's weakness and rose notably past the $79.00 per barrel mark on Monday thanks to auspicious data from China and supply concerns due to wildfires in Canada.
Gold prices reversed two consecutive sessions of gains and fell back to the $2,330 area amid caution regarding the US CPI. Silver prices, meanwhile, advanced modestly above $28.00 an ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
