15th May 2018-Dollar gained fresh support later in the New York session as positive sentiment returned

 
     

Dollar gained fresh support later in the New York session as positive sentiment returned

After depreciating during the European session, the dollar gained fresh support later in the New York session as positive sentiment returned and US yields increased with the dollar index posted net gains. EUR/USD dipped significantly lower after failing to break the 1.2000 level.


Oil prices advanced on the day, but gains were stifled by a firm dollar and gold prices reversed initial gains to trade lower.

Equity markets were hampered by rising bond yields with profit taking also a feature in Asia.

Sterling again attempted to regain ground during Monday and there was an increase in UK yields on the day, although gains were limited amid underlying concerns surrounding the growth outlook.

Oil prices made net gains which helped underpin sentiment, but Brexit concerns returned later in the session following tough rhetoric from EU chief negotiator Barnier and Prime Minister may admitted current UK customs plans are unworkable. GBP/USD hit selling interest above 1.3600 and EUR/GBP found support on approach to the 0.8800 level.

Latest labour-market data will be released on Tuesday with the main focus on average earnings. There would need to be a significant increase in the annual rate from 2.8% the previous month to convince markets that a near-term rate hike is back on the agenda. GBP/USD retreated to 1.3550 on wider US gains with GBP/EUR stalling around 1.1370.

     
 
       
 

GBP/EUR 

– 1.1359

 
 

GBP/USD

– 1.3556

 
 

GBP/CHF 

– 1.3561

 
 

GBP/JPY 

– 148.91

 
 

GBP/AUD 

–  1.8026

 
 

GBP/NZD 

– 1.9610

 
 

GBP/CAD

– 1.7353

 
 

GBP/ZAR 

– 16.7788

 
 

GBP/NOK 

– 10.8540

 
 

GBP/SEK 

– 11.6889

 
 

EUR/USD 

– 1.1931

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

07:00 EUR

Germany GDP (Y/Y)

1.80%

2.30%

 
   

09:30 GBP

UK Claimant Count Change(M/M)

5.0K

11.6K

 
   

10:00 GBP

BoE Inflation Report (Q/Q)

-

-

 
   

10:00 EUR

Euro-Zone GDP (Y/Y)

2.50%

2.50%

 
 
   
 
 
*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time.  CentralFX are not responsible for the rates shown.
 
 
 

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