The US Dollar (USD) traded in a negative fashion, extending Monday’s losses and revisiting the area of multi-day lows. Indeed, renewed concerns over the US economy kept the currency under pressure on Tuesday, while fresh trade jitters also contributed to the sour mood.
Here’s what to watch on Wednesday, May 21:
The US Dollar Index (DXY) tested once again the proximity of the psychological 100.00 support amid rising US yields and fresh jitters over the health of the US economy. Next on tap on the US docket will be the usual MBA Mortgage Applications data, seconded by the EIA’s weekly report on US crude oil inventories. Additionally, the Fed’s Daly, Hammack, and Barkin are due to speak.
EUR/USD rose further and revisited the 1.1280 region once again in response to the bearish price action in the Greenback. The ECB will publish its Financial Stability Review, seconded by the speech by P. Lane.
GBP/USD clocked humble gains, adding to Monday’s advance and coming at shouting distance from the 1.3400 barrier. The UK docket will include the key Inflation Rate for April.
USD/JPY extended its leg lower to fresh two-week troughs near the 144.00 zone, down for the sixth consecutive day. Japan’s Balance of Trade figures are due next.
AUD/USD set aside Monday’s strong advance and refocused on the downside as traders assessed the dovish cut by the RBA. Next in Oz, Westpac will publish its Leading Index.
WTI extended its weekly recovery north of the $62.00 mark per barrel amid steady caution on the US-Iran talks and Chinese data.
Gold added to Monday’s optimism and advanced to multi-day highs near the $3,290 mark per troy ounce on the back of rising prudence on the geopolitical scenario and US trade policy. Silver prices followed suit, up for the second day in a row and rallying to five-day highs past the $33.00 mark per ounce.
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The US Dollar (USD) traded in a negative fashion, extending Monday’s losses and revisiting the area of multi-day lows. Indeed, renewed concerns over the US economy kept the currency under pressure on Tuesday, while fresh trade jitters also contributed to the sour mood.
Here’s what to watch on Wednesday, May 21:
The US Dollar Index (DXY) tested once again the proximity of the psychological 100.00 support amid rising US yields and fresh jitters over the health of the US economy. Next on tap on the US docket will be the usual MBA Mortgage Applications data, seconded by the EIA’s weekly report on US crude oil inventories. Additionally, the Fed’s Daly, Hammack, and Barkin are due to speak.
EUR/USD rose further and revisited the 1.1280 region once again in response to the bearish price action in the Greenback. The ECB will publish its Financial Stability Review, seconded by the speech by P. Lane.
GBP/USD clocked humble gains, adding to Monday’s advance and coming at shouting distance from the 1.3400 barrier. The UK docket will include the key Inflation Rate for April.
USD/JPY extended its leg lower to fresh two-week troughs near the 144.00 zone, down for the sixth consecutive day. Japan’s Balance of Trade figures are due next.
AUD/USD set aside Monday’s strong advance and refocused on the downside as traders assessed the dovish cut by the RBA. Next in Oz, Westpac will publish its Leading Index.
WTI extended its weekly recovery north of the $62.00 mark per barrel amid steady caution on the US-Iran talks and Chinese data.
Gold added to Monday’s optimism and advanced to multi-day highs near the $3,290 mark per troy ounce on the back of rising prudence on the geopolitical scenario and US trade policy. Silver prices followed suit, up for the second day in a row and rallying to five-day highs past the $33.00 mark per ounce.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
