Dollar Slips and Oil Falls as Markets Reprice Fed and Iran Risks
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
During the morning session, GBP/USD is retreating from its May 14 high and testing the 1.3475 level for a downside breakout amid macroeconomic data from the United Kingdom.
During the Asian session, the European currency is correcting after a weak bullish impulse seen the day before and is testing the 1.1630 level for a downside breakout, while investors wait for new drivers that could influence further price movement.
United States. The US dollar is weakening against the euro and the pound, while showing mixed dynamics against the yen.
XAU/USD is consolidating near 4,555.00 as investors await fresh catalysts, reluctant to open new positions amid signs of progress in Middle East conflict resolution.
USD/CAD is strengthening in May on monetary policy drivers, trading near 1.3810 as the US dollar draws support from growing investor conviction that the Federal Reserve will keep rates at current levels for an extended period or even raise them before year-end.
During the Asian session, Brent Crude Oil is holding within a global corrective trend near $95.00 per barrel, pulling back from the local high of $109.00 as investors parse contradictory signals coming out of the Middle East.
During the morning session, USD/JPY is attempting to return to last week's highs: the pair opened with a minor downside gap but is now testing the 158.90 level for an upside breakout.
United States. The US dollar is strengthening against the euro, yen and pound.
WTI Crude Oil is continuing its corrective move, holding near $100.00 per barrel during the Asian session amid persistent market uncertainty — uncertainty that has intensified following a Reuters report that Ayatollah Mojtaba Khamenei has issued a directive requiring Iran's highly enriched uranium stockpiles to remain inside the country.
GBP/USD is pulling back to 1.3429 as the US dollar strengthens and weak UK macroeconomic data weighs on sterling.
The European currency is showing mixed dynamics against the US dollar during the Asian session, with EUR/USD consolidating around 1.1610 while investors and forex traders focus on Germany’s first-quarter gross domestic product (GDP) data and consumer climate statistics from the IFO Institute. As expected, the eurozone’s largest economy accelerated by 0.5% year-on-year and by 0.3% quarter-on-quarter. However, analysts note that further results may be weaker, as prospects for stabilizing the situation in the Middle East remain extremely limited. The IFO indicator showed a slight improvement from –33.1 points to –29.8 points, better than the expected –34.0 points.
United States. The US dollar is posting moderate gains against its major peers — the euro, the yen, and the pound.
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