The US dollar (USD) managed to reverse part of its recent recoil of several days on Thursday, while investors evaluated business activity readings in the US stronger than expected and the fiscal situation in the US, particularly after the broad fiscal bill of President Trump approved the House of Representatives.
This is what you have to observe on Friday, May 23:
The American dollar index (DXY) partially cut the losses and left three consecutive daily falls behind, approaching the 100.00 psychological barrier. The following on the agenda on the other side of the Atlantic will be the publication of the sales of new homes and the Fed Cook speech.
EUR/USD was under new downward pressure on Thursday, returning to the area below the 11300 support. The GDP growth rate of the first quarter in Germany will be the center of attention along with the growth of negotiated salaries of the ECB. In addition, Lane and Schnable of the ECB are scheduled to speak.
The GBP/USD managed to maintain its weekly recovery above 1,3400 despite the mixed results of business activity in the United Kingdom in May. GFK consumer confidence will be published, followed by retail sales.
After seven consecutive daily setbacks, the USD/JPY tried a rebound beyond the 144.00 barrier, going modestly in the day. The Japanese inflation rate will be at the center of attention at the end of the week.
The AUD/USD maintained its erratic price action on Thursday, this time under renewed pressure down and negotiating at an audible distance from the containment zone of 0.6400. The following on the agenda in Australia will be the publication of the monthly indicator of the RBA CPI on May 28.
The WTI joined the pessimism on Wednesday and approached the key of $ 60.00 per barrel, driven by the speculation of additional increases in production by Opec+.
Gold was negotiated despite reaching several days near the 3,350 $ Troy brand on Thursday, always affected by the renewed improvement in the feeling of the US dollar. Silver prices could not hold new seven -week peaks about $ 33,70 per ounce, eventually going back to the area below $ 33.00.
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.
