- May 15, 2024
- Posted by: Anthony Aquino
- Category: Market News
Wednesday May 15, 2024
In the foreign exchange market, the US dollar (USD) is showing mixed strength against major currencies, with cautious trading in stocks before the US inflation data release. Bond markets are slightly firmer, while commodities like crude oil and iron ore are down but copper is up. Currency movements are limited, with the Mexican peso (MXN) and New Zealand dollar (NZD) showing slight gains. The British pound (GBP) and Swedish krona (SEK) are slightly weaker but not significantly. The US Producer Price Index (PPI) is expected to show a moderate increase, which might not greatly impact USD due to already priced-in expectations. However, weaker-than-expected data could push USD lower. Japan’s bond yields are rising, and China may ease its monetary policy in the future. USDCAD is relatively stable, influenced by US data reports. EURUSD is experiencing minor losses but remains technically bullish, while GBPUSD faced a temporary drop due to UK labor market data but recovered quickly.