[B]Daily Fundamental Dose: 20-May-2016[/B]
Hello Traders,
With the market bracing on the recent FOMC minutes’ tune, backed slew of hawkish comments from leading FOMC members, the US Dollar printed one more daily positive closing on Thursday. The Jobless claims also dropped from 14 month high and helped the USD Bulls to extend the greenback’s upward trajectory against almost all of its counterparts except GBP. The GBP remained strong across the board as recent waves favoring the Britain to remain in the EU, backed by positive economic data-points, let’s say yesterday’s Retail Sales, helped the UK currency while the JPY also stopped its downside ahead of the crucial G7 meeting which might provide clues relating to further moves of the BoJ. Moreover, the commodity currencies remained lackluster on the weaker commodity prices, mainly due to strong USD.
Moving on, the Friday started with G7 meeting in Japan wherein the global leaders struggled to come up to solution for the prevailing macro pessimism; however, the meeting is still on and might provide decisive moves to mainly the JPY. Also, the on-going raft of “Brexit” versus “Bremain” continue providing GBP a strong hand while the speculations governing June hike helps the USD towards marking the best rally since January.
For the rest of the day, Canadian CPI, Retail Sales and the US Existing Home Sales are some of the data-points that can continue pumping the market liquidity. Should the US details keep remaining on the positive foot-hold, the USD can again prove that May is a best month for its up-move. Additionally, the poll outcomes concerning the Brexit and the G7 details might also become important for market players to observe.
Have a nice-day………