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EUR/USD (Euro/US Dollar) Strong Sell: Currency in Focus and Technical Analysis (15-Minute Chart) - May 16, 2024

16 5月 2024, 12:43
Masayuki Sakamoto
Masayuki Sakamoto
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EUR/USD (Euro/US Dollar) Strong Sell
EUR/USD is consolidating around 1.0885, having reached its highest level since March 21. US inflation data came in as expected, raising hopes for monetary policy easing. The April CPI decreased to an annual rate of 3.4% and a monthly rate of 0.3%, with core CPI also declining. Eurozone industrial production for March was slightly better than expected. Eurozone inflation data is set to be released on May 17.

GBP/USD (British Pound/US Dollar) Sell
GBP/USD is trading around 1.2690, maintaining its highest level since April 10. After the previous day's US inflation data release, some investors closed their long positions. Both the US CPI and core CPI decreased as expected, heightening expectations for rate cuts. The UK's labor market report showed a significant drop in March employment, with average wages exceeding expectations.

NZD/USD (New Zealand Dollar/US Dollar) Strong Sell
NZD/USD is showing mixed movements around 0.6120, reaching its highest level since March 15. It surged after the US inflation data release. Both the April CPI and core CPI decreased as expected, and retail sales fell short of expectations. Today's focus is on US initial jobless claims. New Zealand's Producer Price Index is set to be released on May 17.

USD/JPY (US Dollar/Japanese Yen) Buy
USD/JPY has fallen to around 154.00, reaching its lowest level since May 6. Japan's GDP came in below expectations, while US inflation data raised hopes for an early Fed rate cut. Both the April CPI and core CPI decreased as expected, and retail sales showed no change.

XAU/USD (Gold/US Dollar) Strong Sell
XAU/USD is steadily rising around 2400.00, reaching its highest level since April 19. US inflation data met expectations, raising hopes for Fed rate cuts. Both the CPI and core CPI decreased, and retail sales fell short of expectations. Today's focus is on initial jobless claims and speeches from Fed representatives.


#Technical, Analysis