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MiralFX Broker

15 May News

The GBP had a good week but ended with losses against the USD. UK Employment data may have an impact on its performance. The Australian Dollar declined due to the US Dollar’s popularity, which is expected to continue due to possible rate reductions by the Fed. Gold prices were stable despite a sudden surge in the US dollar caused by inflation figures. Crude oil market is in a bleak state due to the debt ceiling crisis and concerns over a recession, resulting in continued low prices.

The crude oil market has been adversely affected by the recent developments in the economic landscape, specifically the issues surrounding the U.S. debt ceiling and the looming possibility of a recession. This has resulted in a continuous decline in oil prices for four consecutive weeks, indicating a significant influence of bearish sentiments on the market. The foreseeable future of energy markets is further expected to be negatively impacted by these factors, highlighting the need for a comprehensive analysis of their implications.

The US Dollar has experienced a surge in value, buoyed by the rise in Treasury yields. This is occurring against the backdrop of the debt ceiling taking on a prominent role as a key issue this week, and with considerable uncertainty still prevailing. Although the US Dollar has enjoyed widespread gains, there is a possibility that EUR/USD may be at risk.

The currency exchange rate between the Japanese Yen and the US Dollar experienced a shift as the latter gained strength despite concerns regarding the US debt ceiling. The USD/JPY pair saw an increase, with the Yen depreciating following a rise in domestic PPI preceding CPI. Additionally, China’s PBOC injected liquidity into the market, but this had little impact on equity markets. Overall, anxiety surrounding the US debt ceiling is causing uncertainty in markets and raising questions about whether it will lead to an uptick in USD value.


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