This is what you need to know to trade today Tuesday May 28:
The US Dollar (USD) struggles to find demand in the early part of Tuesday after weakening modestly against its main rivals on Monday. The March House Price Index, the Conference Board Consumer Confidence Index and the Dallas Fed Manufacturing Index for May will be on the US economic calendar later in the day. Several Federal Reserve (Fed) policymakers are scheduled to deliver speeches during US trading hours.
The DXY index fell in the second half of Monday and closed the day in negative territory. After a three-day holiday, the 10-year US Treasury yield declines slightly on Tuesday and US stock index futures trade marginally higher.
Price of the US Dollar this week
The table shows the percentage change of the US Dollar (USD) against the major currencies listed this week. The US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.27% | -0.29% | -0.09% | -0.31% | -0.48% | -0.77% | -0.28% | |
| EUR | 0.27% | -0.04% | 0.20% | -0.02% | -0.28% | -0.60% | 0.04% | |
| GBP | 0.29% | 0.04% | 0.20% | -0.02% | -0.23% | -0.48% | 0.03% | |
| JPY | 0.09% | -0.20% | -0.20% | -0.26% | -0.42% | -0.61% | -0.22% | |
| CAD | 0.31% | 0.02% | 0.02% | 0.26% | -0.19% | -0.46% | -0.03% | |
| AUD | 0.48% | 0.28% | 0.23% | 0.42% | 0.19% | -0.23% | 0.27% | |
| NZD | 0.77% | 0.60% | 0.48% | 0.61% | 0.46% | 0.23% | 0.48% | |
| CHF | 0.28% | -0.04% | -0.03% | 0.22% | 0.03% | -0.27% | -0.48% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen from the left column, while the quote currency is chosen from the top row. For example, if you choose the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change shown in the box will represent USD (base)/JPY (quote)..
Data from Japan showed the corporate services price index rose 2.8% year-on-year in April, after a 2.4% rise in March. Additionally, Japan's weighted median inflation index, a key measure of the country's trend inflation, rose 1.1% in April, slowing from a 1.3% rise in March. USD/JPY showed no reaction to these figures and was last seen moving sideways slightly below 157.00.
After a quiet European session, the EUR/USD stretched higher in US trading hours on Monday and ended the day in positive territory. The pair remains firm early on Tuesday and trades above 1.0870.
He GBP/USD It gained 0.25% on Monday and advanced towards 1.2800 on Tuesday, reaching its highest level in two months. The pair remains relatively calm and fluctuates around 1.2780 as the European session begins.
He Gold staged a decisive rebound and rose almost 1% on Monday. XAU/USD, however, appears to be struggling to maintain its recovery momentum, trading in the red below $2,350 at the moment.
The Australian Bureau of Statistics reported on Tuesday that retail sales rose 0.1% on a month-on-month basis in April. This reading followed the 0.4% drop recorded in March and was below the market expectation of a 0.2% increase. After closing in positive territory on Monday, the AUD/USD entered a consolidation phase above 0.6650 on Tuesday.
Economic Indicator
Consumer Confidence
The Consumer Confidence Index, published monthly by the Conference Board, is a survey that measures sentiment among consumers in the United States, reflecting prevailing business conditions and possible developments in the coming months. The report details consumer attitudes, purchasing intentions, vacation plans and consumer expectations about inflation, the labor market, stock prices and interest rates. The data paints a picture of whether or not consumers are willing to spend money, a key factor as consumer spending is a major driver of the US economy. Generally, a high reading is bullish for the US dollar ( USD), while a low reading is bearish. Note: Due to Conference Board restrictions, the FXStreet Economic Calendar does not provide figures for this indicator.
Last post: Tue Apr 30, 2024 14:00
Frequency: Monthly
Current: –
Consensus: –
Former: –
Fountain: Conference Board
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.
