The US dollar (USD) maintained its well -established weekly decline, weakening new minimums of two weeks due to the growing concerns about the fiscal position of the United States in the light of the fiscal bill of President Trump and the concerns about the performance of the US economy.
This is what you have to observe on Thursday, May 22:
The US dollar index (DXY) backed down for the third consecutive day on Wednesday, breaking below the 100.00 psychological support to reach new minimums of two weeks. The National Activity Index of the Chicago Fed will be published, followed by the usual applications of unemployment subsidy, the sales of existing housing and the preliminary PMIs of manufacturing and Global S&P services.
The EUR/USD exceeded the key barrier of 1,1300 and advanced to new two -week maximums, always backed by the intense mass sale of the dollar. The preliminary PMIs of manufacturing and services of HCOB in Germany and the euro zone are expected, together with the IFO business climate index of Germany and the publication of the minutes of the MONEARY POLICY meeting of the ECB. In addition, Elderson and BCE Guindos are expected to speak.
The GBP/USD reached the 1,3470 area for the first time since February 2022, after the weakening of the US dollar and the United Kingdom inflation data higher than estimated. The Net Indebtedness figures of the public sector will be published, followed by the requests for industrial trends of CBI and the preliminary PMIs of manufacturing and Global S&P services. In addition, Pill and Breeden of the BOE will also speak.
There was no respite for the downward trend in the USD/JPY. That said, the spot fell for the seventh consecutive day, reviewing the middle zone of 143.00, or minimum of two weeks. In Japan, the machinery orders data will be published, before the preliminary PMIs of manufacturing and services of Jibun Bank, and the weekly data of foreign investment in bonds. Noguchi will also speak of the BOJ.
The Aud/USD extended its weekly volatility and resumed its upward trend, leaving behind Tuesday’s fall and testing the 0.6460 region again. Preliminary PMIs of manufacturing and Global S&P services are expected, while Hauser del RBA will also speak.
The WTI resamed the initial profits just above the $ 64.00 brand per barrel and fell below $ 62.00 in the midst of fears of possible supply interruptions and higher weekly inventories than expected, according to the EIA report.
Gold rose to weekly maximums above the 3,300 $ brand per ounce Troy in response to the sale pressure that affects the US dollar and the persistent geopolitical effervescence. Silver prices, meanwhile, rose to new three -week maximums above 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.
