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22 May economic news

The US dollar has declined due to uncertainties while the Japanese yen remains strong despite unfavorable data. The Federal Reserve may indicate a halt in their policies at their next meeting, which raises questions about the USD/JPY exchange rate. The price of crude oil experienced a setback and its future direction is uncertain. Discussions surrounding the US debt ceiling will resume this week, and a prompt decision is required. The Nasdaq 100, Dow Jones, and S&P 500 indices are forecasted to rally in the US, but there is uncertainty about the continuation of the rally, particularly with regards to the Nasdaq 100. The progress of developments related to the US debt ceiling will play a crucial role in determining further upside potential in US equities.

Forecast of the week:

The EUR/USD currency pair may see a fightback for the euro, while the GBP/USD will be influenced by market sentiment and inflation reports. The Japanese Yen has continued to decline against its major counterparts and attention is on whether USD/JPY will maintain its upward momentum. Gold may experience a bullish continuation due to recent events. The US Dollar has experienced an upward trend but it remains to be seen if the preferred inflation gauge of the Federal Reserve will provide further support for its breakout. Crude oil prospects seem unfavorable due to potential recession and a double top pattern strengthening indications of a bearish trend.

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