The US dollar (USD) reversed the previous losses and rose on Wednesday, since investors moved away from the risk -related assets amid the continuous optimism around the US commercial policy. The recovery of the dollar occurred despite the renewed expectations of rates cuts by the Federal Reserve later this year, after signs of cooling of inflation in April.
This is what you need to know on Thursday, May 15:
The dollar index (DXY) reversed Tuesday’s setback, visiting the area beyond the 101.00 barrier in the middle of an additional advance in US yields throughout the curve. Interesting data in the US calendar will include retail sales, producer prices, the manufacturing index of the Fed of Philadelphia, industrial and manufacturing production, business inventories, the NAHB housing market index, as well as the initial weekly applications of unemployment subsidy. In addition, President Powell is scheduled to talk before Barr.
The EUR/USD returned to the area of ​​1,1170 despite reaching weekly maximums well above 1,1200 in response to the initial position offered in the US dollar. Wholesale prices in Germany are the following, followed by the change in the use of the Eurozone and the second estimate of the GDP growth rate of the first quarter.
The GBP/USD could not maintain a movement towards peaks of several days about 1,3360, going back to the 1,3250 zone after marked losses. An agenda occupied in the United Kingdom will include the publication of the preliminary GDP growth rate of the first quarter, followed by business investment, trade balance of goods, industrial production and manufacturing, production in construction and labor productivity. In addition, Dhingra del Boe is scheduled to speak.
The USD/JPY collapsed to the 145.60 area, or minimum of three days, after the weakening of the dollar and the increase in yields in the US and Japan. Investment in foreign bonds and machinery tools orders are the following on the agenda.
The AUD/USD briefly reacted the 0.6500 barrier, only to succumb to the sale pressure shortly after, ending the day in a strong defensive. The key labor market report is as follows in Australia, followed by consumer inflation expectations.
WTI prices backed up modestly but remained close to the recent maximums around $ 64.00 per barrel due to the increase in US raw oil supplies.
Gold was negotiated well on the defensive, adding to the ongoing weakness and reaching minimum of five weeks about $ 3,170 per Troy ounce, always following constant optimism in the commercial scenario. Silver prices backed a minimum of two days near the level of 32.00 per ounce amid the persistent volatility in price action.
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.
