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Market Overview May 16, 2018

By SGT MarketsForexMay 16, 2018 05:34AM ET
www.investing.com/analysis/market-overview-20180516-200316562
Market Overview May 16, 2018
By SGT Markets   |  May 16, 2018 05:34AM ET
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EUR/USD
The euro has weakened against the US dollar during Asian trade. The record high yields on US government bonds have affected US currencies reaching a record high against the main currencies in the past five months. Today, at 11:00 am, the Consumer Price Index (CPI) will be published in the Eurozone, while at 2:00 pm President of the European Central Bank, Mario Draghi, will address the public. At 2:30 pm, the number of building permits will be published in the United States, all of which can cause increased price fluctuations in the exchange rate of this currency pair. At the end of the Asian trade, the euro is exchanged for $ 1.1835, a decrease of 0.03%.

eur/usd
eur/usd


GBP/USD
The British pound strengthened during Asian trading. Today there are no economic news from the United Kingdom, so the exchange rate of this currency could be influenced by economic news from the United States. At 2:30 pm, the number of building permits will be published in the United States, while in 15:15 data on industrial production will also be published in the US, which may be reflected in the exchange rate of this currency pair. At the end of Asian trading, the British pound is exchanged for $ 1.3506, an increase of 0.04%

gbp/usd
gbp/usd

USD/JPY
The US dollar weakened against the Japanese yen during Asian trading. Despite the disappointing reading of gross domestic product in Japan, the announcement that North Korea suspended negotiations with South Korea on the denuclearization of the Korean peninsula has affected the strengthening of the Japanese yen as a "safe haven" of a financial instrument. At 2:30 pm, the number of building permits will be published in the United States, while data on industrial production will also be published in the United States at 3:15 pm, which can be further reflected in the exchange rate of this currency pair. At the end of the Asian trade, the US dollar is exchanged for 110.29 yen, representing a weakening of 0.02%.

usd/jpy
usd/jpy

GOLD
Gold prices strengthened during Asian trade. After information that North Korea suspended negotiations with South Korea on the denuclearization of the Korean Peninsula, the price of safe investments strengthened, which also reflected on the yellow metal. At 2:30 pm, the US will publish data on the number of building permits, while at 15:15, data on industrial production will also be published in the US, which could in the short term affect the price of gold. At the end of Asian trading, the price of gold is around $ 1,293.50 per one ounce, which is a gain of 0.25%.

gold
gold

OIL
During Asian trade, the price of crude oil has weakened. The price of this fuel is currently affected by the increase in the stock of crude oil that last year showed the report of the American Petroleum Institute. Today at 4:30 pm, a US government report on crude oil stocks will also be published, which could further reflect on this energy source. In addition to the aforementioned reports, the withdrawal of the US from a nuclear deal with Iran and the possible reintroduction of sanctions to this country still affect the price of this energy. At the end of Asian trading, the price of crude oil is around $ 71.16 per barrel, which is a 0.21% weakening.

oil
oil

Market Overview May 16, 2018
 

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Market Overview May 16, 2018

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