The dollar shot out as the markets would digest the federal reserve decision to maintain interest rates without changes, while market attention remained in the commercial front after the news of a commercial agreement between the US and the United Kingdom.
This is what you need to know on Friday, May 9:
The US dollar (USD) extended its rebound on Thursday, with the dollar index (DXY) advancing well beyond the 100.00 psychological brand, or four -week maximum. The next publication of key data in the US will be the inflation rate on May 13.
The EUR/USD backed a minimum of four weeks, revising the 1220-1,1210 band in the middle of a widespread bullish bias in the dollar. The operators are now attentive to the May 13 publication of the ZEW economic feeling survey for Germany and the Eurozone.
The GBP/USD tested new minimums of two weeks around 1,3240 due to the increase in the strength of the USD and despite optimism after the reduction of BOE rates and the commercial agreement between the US and the United Kingdom. Governor Andrew Bailey is scheduled to talk on Friday.
The USD/JPY added to the recent increase and approached monthly maximums just below the level of 146.00. The next Japan data agenda includes household spending, average cash income and early and advanced indices.
The Aud/USD joined the fall on Wednesday and fell to minimums of the day near the neighborhood of 0.6400. The market approach moves to the consumer and business confidence figures of Australia that will be published on May 13 by Westpac and NAB, respectively.
The WTI prices rose significantly, approaching the key brand of 60.00 per barrel on Thursday, since the operators were optimistic about the next commercial conversations between the US and China.
Gold prices remained down for the second consecutive day, this time sliding again to a minimum of three days near the 300 $ Troy brand, while investors closely followed the positive developments on the commercial front. In contrast, silver prices partially reversed the setback of the previous day and moved modestly to the 32.50 $ per ounce area.
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.
