Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Forex

Forex Today: Major currency pairs stay in familiar ranges, eyes on German inflation

Source Fxstreet

Here is what you need to know on Wednesday, May 29:

Major currency pairs are having a difficult time finding direction in the first half of the week. Following Tuesday's modest rebound, the US Dollar (USD) Index hold steady slightly above 104.50. Later in the day, Consumer Price Index (CPI) data from Germany will be watched closely by market participants. During the American trading hours, the Federal Reserve (Fed) will release its Beige Book.

The upbeat consumer sentiment data from the US, combined with a nearly 2% increase seen in the 10-year US Treasury bond yield, helped the USD stay resilient against its rivals on Tuesday. Early Wednesday, the 10-year US yield holds steady above 4.5%. Meanwhile, US stock index futures trade in negative territory after Wall Street's main indexes registered small gains on Tuesday.

US Dollar PRICE This week

The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.08%	-0.24%	0.05%	-0.09%	-0.43%	-0.43%	-0.27%
EUR	0.08%		-0.19%	0.17%	-0.01%	-0.42%	-0.44%	-0.16%
GBP	0.24%	0.19%		0.30%	0.15%	-0.23%	-0.19%	0.01%
JPY	-0.05%	-0.17%	-0.30%		-0.18%	-0.50%	-0.41%	-0.34%
CAD	0.09%	0.00%	-0.15%	0.18%		-0.37%	-0.34%	-0.23%
AUD	0.43%	0.42%	0.23%	0.50%	0.37%		0.06%	0.21%
NZD	0.43%	0.44%	0.19%	0.41%	0.34%	-0.06%		0.16%
CHF	0.27%	0.16%	-0.01%	0.34%	0.23%	-0.21%	-0.16%

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).

During the Asian session, the data from Australia showed that the CPI rose 3.6% on a monthly basis in April. This reading followed the 3.5% increase recorded in March and came in above the market expectation of 3.4%. Other data from Australia showed that the ANZ Business Confidence Index declined to 11.2 in May from 14.9. AUD/USD edged slightly higher following the data releases and was last seen trading above 0.6650.

Australian Dollar consolidates after robust Monthly inflation, US Dollar remains firm.

Bank of Japan (BoJ) board member Seiji Adachi said early Wednesday that they are not yet at a stage where they are convinced there is a sustained achievement of price target, adding that they must maintain accommodative conditions. USD/JPY showed no reaction to these remarks and was last seen trading sideways at around 157.00.

Japanese Yen recovers early losses after BoJ Adachi favors to reduce bond-buying.

After rising toward 1.0900 during the European trading hours, EUR/USD lost its traction and declined toward 1.0850, closing virtually unchanged on Tuesday. The pair stays relatively quiet early Wednesday near Tuesday's closing level.

GBP/USD touched its highest level in over a month above 1.2800 on Tuesday but erased its gains to end the day flat above 1.2750. The pair trades marginally higher on the day at around 1.2770 in the European morning.

Gold posted gains for the third consecutive day on Tuesday. Nevertheless, the recovery seen in the US yields capped XAU/USD's upside and caused it to retreat toward $2,350.

Economic Indicator

Fed's Beige Book

The Beige Book reports on the current US economic situation. Through interviews with key business contacts, economists, market experts, and other sources are gathered by each of the 12 Federal Reserve Districts. The survey gives a picture of the overall US economic growth. An optimistic view of those authorities is considered as positive, or bullish for the USD, whereas a pessimistic view is considered as negative, or bearish for the Dollar.

Recommended Articles

The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hike A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Author Irene Q.

Oct 22, Thu

A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Big Tech's $800 billion AI bill faces its first real test — free cash flow is the judge Alphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.

Author Irene Q.

Oct 26, Mon

Alphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.

Anthropic files for a $2 trillion IPO — the $80.7 billion loss is the decoy, the $450 billion compute bill is the risk Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.

Author Irene Q.

Oct 27, Tue

Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.

Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide

Author TradingKey

Oct 27, Tue

The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide

Brent's $115 front month sits $4.6 above January — the $14 spread to WTI is the supply-risk premium December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Author Irene Q.

20 hours ago

December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Popular Symbols