Forex Today: Investors seek fresh clues

Source Fxstreet
May 20, 2024 20:00

What you need to take care of on  Tuesday, May 21:

Metals grabbed all of the attention on Monday, as Gold and Copper traded at record highs at the beginning of the day, although shed some ground in a quiet European morning, as most local markets were closed due to the celebration of Whit Monday.

The American session provided little to work with, as the macroeconomic calendar only featured different Federal Reserve speakers, which anyway, repeated well-known messages and fell short of triggering action across the FX board.

The Greenback took clues from metals, recovering just modestly with Gold slide but resuming its slide ahead of Wall Street’s close as XAU/USD pressures the $2,430 price zone.

The EUR/USD pair held around 1.0860, while the GBP/USD stood at around 1.2700. Commodity-linked currencies were the most volatile, with AUD and CAD ending the day with losses vs the US Dollar.

Wall Street closed mixed, also failing to provide clues. The DJIA lost 200 points, although the S&P500 and the Nasdaq Composite managed to post uneven gains.

The upcoming Asian session will bring Australian Westpac Consumer Confidence and the Reserve Bank of Australia (RBA) meeting Minutes. There won’t be any relevant release throughout Tuesday.

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.09% -0.05% 0.44% 0.06% 0.37% 0.44% 0.15%
EUR -0.09%   -0.16% 0.41% -0.01% 0.33% 0.37% 0.07%
GBP 0.05% 0.16%   0.42% 0.13% 0.48% 0.52% 0.22%
JPY -0.44% -0.41% -0.42%   -0.41% -0.06% 0.04% -0.28%
CAD -0.06% 0.01% -0.13% 0.41%   0.29% 0.40% 0.10%
AUD -0.37% -0.33% -0.48% 0.06% -0.29%   0.03% -0.25%
NZD -0.44% -0.37% -0.52% -0.04% -0.40% -0.03%   -0.28%
CHF -0.15% -0.07% -0.22% 0.28% -0.10% 0.25% 0.28%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
EUR/GBP hobbled by European election turmoil, but soft UK labor limits lossesEUR/GBP shed weight on Tuesday, extending recent losses and falling a third of a percent as turbulent EU Parliamentary elections destabilize European markets.
Source  Fxstreet
EUR/GBP shed weight on Tuesday, extending recent losses and falling a third of a percent as turbulent EU Parliamentary elections destabilize European markets.
placeholder
GBP/USD Price Analysis: Consolidates around 1.2700 ahead of FOMC’s decisionThe GBP/USD dropped during the North American session after employment data from the UK was weaker than expected, undermining the Pound Sterling.
Source  Fxstreet
The GBP/USD dropped during the North American session after employment data from the UK was weaker than expected, undermining the Pound Sterling.
placeholder
NZD/USD weakens below 0.6150, investors await the US CPI, Fed rate decisionThe NZD/USD pair trades on a softer note around 0.6130 on Tuesday during the early Asian session.
Source  Fxstreet
The NZD/USD pair trades on a softer note around 0.6130 on Tuesday during the early Asian session.
goTop
quote