As the market participants digest the news that President Trump retreated in his threats to impose 50% taxes on European products, the US dollar (USD) remained defensive at the beginning rather poor of the new negotiation week.
This is what you have to observe on Tuesday, May 27:
The American dollar index (DXY) briefly fell to a minimum of five weeks on Monday, retreating below the 99.00 support due to the White House commercial policy. The publication of the Conference Board’s consumer conference will be at the Center for Care, seconded by the requests for durable goods, the FHFA housing price index and the manufacturing index of the Dallas Fed. In addition, Kashkari of the Fed speaks.
The EUR/USD flirted with maximum of several weeks above 1,1400 in the context of a renewed optimism in the commercial front. The GFK consumer’s confidence in Germany will be published together with the EMEM’s economic feeling, the final impression of consumer confidence and the consumer inflation expectations survey.
The additional force led to the GBP/USD to maximum of more than three years, just a few pips from the 1,3600 barrier, in the midst of greater weakness that affects the dollar. The CBI distributive trade survey will be the only data publication on the other side of the channel.
After new monthly minimums about 142.20, the USD/JPY managed to recover some composure and ended the day with modest profits, reversing part of the fall of several days. Next on the Japanese agenda will be the weekly investment figures in foreign bonds and the confidence of the May consumer, all scheduled for May 29.
The Aud/USD rose to levels not seen since the end of November 2024, exceeding the key barrier of 0.6500 on Monday, although it backed down a little later. The monthly IPC indicator of the RBA and the construction work done are the following in Australia on May 28.
The WTI resumed its decline on Monday, approaching the mark of 61,00 per barrel despite the improved feeling on the commercial front after the change of Trump with respect to the tariffs on the EU.
In reaction to the reports that President Trump has extended the deadline for commercial negotiations with the EU, the price of gold retreated the remarkable rise on Friday and was negotiated near the area of ​​$ 3,320 per Troy ounce. Similarly, silver prices have had a slow start this week, with sale pressure accumulating near the 33.00 brand per 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.
