You are here: Home > articles > Commodities > EU Bullet Report | USD at 2 month highs, GOLD collapses
EU Bullet Report | USD at 2 month highs, GOLD collapses
May 25, 2016 6:34 amVideo
Latest News
- Video market update for May 27, 2024 May 27, 2024
- Analysis of GBP/USD pair on May 27, 2024 May 27, 2024
- Euro area inflation unlikely to change ECB’s outlook – Preview May 27, 2024
- EUR/USD. Analysis of the upcoming inflation report in the European Union. What to expect? May 27, 2024
- USD/JPY: Simple trading tips for novice traders on May 27th (US session) May 27, 2024
- GBP/USD: Simple trading tips for novice traders on May 27th (US session) May 27, 2024
- EUR/USD: Simple trading tips for novice traders on May 27th (US session) May 27, 2024
- GBP/USD: trading plan for the US session on May 27th (analysis of morning deals). The pound reached 1.2756 May 27, 2024
- Technical Analysis – Will gold resume its prevailing uptrend? May 27, 2024
- Technical Analysis – USDCAD pulls back but diagonal line still stands May 27, 2024
- Technical Analysis – USDJPY remains stuck in a tight range May 27, 2024
- EUR/USD: trading plan for the US session on May 27th (analysis of morning deals). The euro is trying to continue its growth May 27, 2024
- Forecast of EUR/USD pair on May 27, 2024 May 27, 2024
- Forecast of GBP/USD pair on May 27, 2024 May 27, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, #Ethereum, and US dollar index May 27, 2024
- Weekly forecast based on simplified wave analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on May 27th May 27, 2024
- Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Monday May 27 2024. May 27, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Currency Pairs, Monday May 27 2024. May 27, 2024
- Weekly Technical Outlook: 27/05/2024 – USDJPY, EURUSD, AUDUSD May 27, 2024
- Forex forecast 05/27/2024: EUR/USD, GBP/USD, USD/JPY, USD/CAD and Bitcoin from Sebastian Seliga May 27, 2024
USD Index is mixed as now markets are continuing to ad hopes for a summer rate hike, and markets starts preparing for next week’s NFP which is very likely to be the most volatile of this year. While EUR is soft, GBP remains the strongest currency of this week. Yesterday, US home sales data, showed a very strong expansion in the housing industry which further boosted USD across the board. The calendar is full today, with Crude oil inventories, and Bank of Canada rate decision standing out.
Stocks: Equities staged a strong rebound yesterday after positive US data soothed fears that the US economy might not resilient to withstand the effect of a summer rate hike. DJIA closed up 213.12 pts, or 1.22%, at 17706.05. S&P 500 closed up 28.02 pts, or 1.37%, at 2076.06. Asian shares jumped also recovering from nearly 10 week lows.
Currencies: As mentioned above, the environment favors the USD currently. Evident is the USX index which measures the dollar’s performance against a basket of six major currencies, was holding steady at 95.604, after earlier climbing to a 2 month high of 95.661. While EURUSD was steady at 1.1145, a 10 week low, GBP is the only pair showing strength versus the USD backed from poll results that back the UK staying within the EU. AUDUSD was also steady after slipping to a 12 week low of 0.7145 on Tuesday, pressured by expectations of a rate cut by the Reserve Bank of Australia.
Oil and GOLD: A strong rebound in equities ignited a sharp selloff in GOLD which dropped from $1251 to as low as $1223, a 6 week low. Major support now lies at $1214 and $1205. Oil prices pushed higher to $50 a barrel, its highest in 7 months after data showed an increase in demand compared to previous weeks. Oil prices shrugged off the impact from a strong U.S. dollar which hovered close to a 10 week high against the euro.
The post EU Bullet Report | USD at 2 month highs, GOLD collapses appeared first on Forex.Info.
Related Posts: