Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is strengthening as firm Oil prices lift bond yields and weigh on equities, while the US-China summit delivered only marginal diplomatic progress.

India Trade Deficit Government rose from previous $20.9B to $28.38B in April

Deutsche Bank’s Shreyas Gopal reiterates a long EUR/GBP stance after United Kingdom (UK) local elections, arguing that UK political uncertainty is likely to persist through summer.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $78.44 per troy ounce, down 6.02% from the $83.47 it cost on Thursday.

Commerzbank’s Michael Pfister argues that Japanese authorities cannot rely on FX interventions alone to support the Japanese Yen (JPY) against the US Dollar (USD).

Gold (XAU/USD) falls for a fourth straight day, dropping near $4,550 as the US Dollar (USD) strengthens. The Greenback is supported by rising expectations of a hawkish Federal Reserve (Fed) following strong US inflation and Retail Sales data.

ING’s Frantisek Taborsky flags that a new interview with the Czech National Bank governor underlines a dovish tilt despite talk of possible hikes.

Crude Oil prices maintain their bullish trend on Friday, with the US Benchmark West Texas Intermediate (WTI) barrel pushing to fresh weekly highs above $100.00, after US President Donald Trump affirmed that China agreed to buy US Crude, but no specific plan to reopen the critical Strait of Hormuz ha

DBS Group Research’s Philip Wee notes that the first day of the Trump-Xi Summit in China favoured USD Bulls as President Trump stressed economic cooperation and trade rollbacks.

The AUD/USD pair attracts heavy selling for the second consecutive day on Friday and breaks through the 0.7200 mark, hitting an over one-week low during the first half of the European session.

Societe Generale analysts report EUR/USD has fallen to its lowest level since early April as wider UST/Bund spreads and higher energy prices weigh on the Euro (EUR). The pair has broken below its 50- and 200-day moving averages, with support cited at 1.1560 and resistance at 1.1720.

The Euro (EUR) trades sharply lower against the US Dollar (USD) around 1.1630 during the European trading session on Friday, the lowest level seen in over a month.

Deutsche Bank’s macro strategy team notes that Brent Oil remains supported by geopolitical tensions and supply concerns. Comments from President Trump about the Strait of Hormuz have reinforced fears of a prolonged disruption, driving prices higher overnight.

The Euro (EUR) rallies for the second consecutive day against an ailing British Pound (GBP) on Friday, crushed by growing political uncertainty in the UK.

Commerzbank’s Tatha Ghose notes that the National Bank of Hungary (MNB) cut the implied rate on EUR liquidity swaps, effectively a 50 bp easing signal that widens the gap to the base rate.

BNY’s Bob Savage argues U.S. equities are being propelled by an unusually strong, AI-led earnings boom that is outpacing the broader economy and sustaining index gains despite macro headwinds.

Here is what you need to know on Friday, May 15:

ING's Francesco Pesole highlights a significant technical break in EUR/USD below 1.170, opening scope for a test of 1.160 in coming days.

Turkey Budget Balance fell from previous -229.9B to -338.7B in April

Italy Consumer Price Index (YoY) below forecasts (2.8%) in April: Actual (2.7%)

Italy Consumer Price Index (MoM) below forecasts (1.2%) in April: Actual (1.1%)

Italy Consumer Price Index (EU Norm) (YoY) below forecasts (2.9%) in April: Actual (2.8%)

Italy Consumer Price Index (EU Norm) (MoM) came in at 1.6%, below expectations (1.7%) in April

Sui (SUI) is down roughly 3% at press time on Friday, extending a five-day decline so far this week. Retail demand for the SUI token is waning as the market shifts attention away from underperforming layer-1 tokens. The technical outlook is bearish, pointing to a double-digit drop to $1.00.

The GBP/JPY cross attracts some follow-through selling for the second consecutive day and drops to a one-and-a-half-week low during the early European session on Friday. Spot prices, however, rebounded a few pips in the last hour and currently trade near the 211.75 region, down 0.25% for the day.

Dow Jones futures decline 0.35% below 50,000 during the European hours on Friday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 fall 0.56% to near 7,480, and the Nasdaq 100 futures slid 0.81% to near 29,450.

MUFG’s Derek Halpenny argues that rising crude Oil prices, higher global yields and Middle East tensions are undermining Japanese Yen stability and working against recent Ministry of Finance (MoF) intervention.