#EUR/USD clocked its fourth consecutive session of losses and challenged the 1.0800 support. The final Q1 #GDP Growth Rate in #Germany will be in the spotlight on May 24.
#GBP/USD reversed four daily advances in a row and retreated from recent peaks near 1.2760. On May 24, the #Consumer#Confidence tracked by #GfK comes in the first turn seconded by Retail Sales.
Further weakness saw #AUD/USD add to the ongoing weekly retracement and breach the 0.6600 support on the back of the stronger #Dollar and the generalized sour sentiment in the risk complex.
Prices of #Gold charted heavy losses and revisited the $2,330 zone per troy ounce following the #Dollar’s bounce and increasing yields.
By the same token, prices of the ounce of #Silver extended the drop to the boundaries of the $30.00
#EURUSD tumbled to five-day lows near the 1.0820 region, an area coincident with the provisional 100-day #SMA. The preliminary #Consumer#Confidence tracked by the #European Commission (#EC) in the broader #Euroland is due on May 23, ahead of May’s flash #Manufacturing and Services #PMIs.
#GBP/USD clung to daily gains on the back of renewed repricing of rate cuts by the BoE in the wake of #UKinflation data. On May 23, flash #Manufacturing and Services PMIs will be revealed prior to the speech by the #BoE’s Pill.
Higher yields and the continuation of the rebound in the dollar lent extra legs to #USD/JPY, which flirted with the area of three-week tops. #Foreign#Bond Investment are due on May 23, seconded by advanced #Jibun#Bank Manufacturing and Services #PMIs.
#AUD/USD retreated markedly to multi-session lows following the stronger dollar and the weak tone in the commodity space. The #Consumer#Inflation#Expectations are next on tap in #Oz on May 23 followed by the flash #Judo#Bank Manufacturing and #Services#PMIs.
#Gold prices added to Tuesday’s decline following hawkish #FOMC#Minutes, higher yields and a robust greenback.
#Silver followed suit and revisited three-day lows in the sub-$31.00 mark zone.