25 May economic news

The Australian Dollar is displaying susceptibility as it examines crucial support levels. The primary emphasis is on the forthcoming retail sales in Australia and core PCE data in the US. The question remains regarding the possible direction for AUD/USD, AUD/JPY, and AUD/CAD.

The price of crude oil rose significantly as OPEC+ cautioned speculators to exercise caution. In light of a substantial decrease in US inventory data following a significant increase, WTI crude oil reached a three-week high. The question remains whether the cartel can successfully curtail production in order to elevate WTI crude oil prices.

The Australian dollar’s stability is being questioned, particularly as it struggles to maintain important support levels. Investors are closely monitoring upcoming economic data, particularly retail sales in Australia and US core PCE figures. The direction of AUD/USD, AUD/JPY, and AUD/CAD remains uncertain.

Despite a higher-than-anticipated Consumer Price Index, the British Pound demonstrated a lack of response. The GBP/USD exchange rate declined, indicating the possibility of continued consolidation in the near future. What indicators should be monitored in relation to the GBP/USD, EUR/GBP, and GBP/JPY exchange rates?

The chipmaker Nvidia has surpassed its earnings projections, causing its stock to rise by 25%. This success has had a ripple effect on the Nasdaq 100 and S&P 500 futures, causing them to increase in value after-hours. The Nasdaq is also observing a Rising Wedge chart pattern and analysts are interested in identifying key levels to monitor in the future. Additionally, there is a potential risk of the US AAA rating being cut.