EUR, GBP and Gold All Punished by Strong USD

USD TALKING POINTS:

- The Dollar continues to show all-round strength as high US inflation makes further US interest rate rises this year ever more likely.

- That’s weakening many other currencies, as well as gold.

USD STRENGTH STILL IN FOCUS

Rising US inflation is continuing to boost the Dollar at the expense of many other currencies as the likelihood of tighter US monetary policy this year to combat price pressures continues to give the currency an interest rate advantage over its rivals. While April producer price data this session are expected to show a mild easing of the upside pressure on consumer prices further down the line, April consumer price figures tomorrow are forecast to show further increases; a trend that will likely keep the Federal Reserve on the path towards still higher rates.

This session, the US dollar basket hit its highest level this year before easing back a little.

US DOLLAR BASKET PRICE CHART, DAILY TIMEFRAME

 (NOVEMBER 27, 2017 – MAY 9, 2018)

At the same time, EURUSD has eased to its weakest since December last year, undermined by the prospect of a snap general election in Italy in the next few months that could result in populists taking control as well as by news of an unexpected fall in French industrial production in March that emphasized the relative weakness of the Euro-Zone economy.

GBPUSD is close to its 2018 lows too, with sentiment hit by a lack of progress on Brexit and by data from the British Retail Consortium showing the sharpest fall since the BRC started collecting retail sales data 23 years ago.

Elsewhere, AUDUSD has fallen to its lowest level since June last year, USDCAD continues to climb, USDJPYhas risen strongly this session and the price of gold has fallen as the yield on the 10-year US Treasury note has risen back to 3%, emphasizing the Dollar’s interest-rate advantage against many other major currencies.

Start Trading with Free $30    : CLAIM NOW $30

VERIFY YOUR ACCOUNT AND GET YOUR $30 INSTANTLY ,MAKE MONEY WITHDRAW !!

IT IS POSSIBLE TO SHIFT FROM $30  TO  $1,000,000  TRY  TODAY

IF  YOU  FACE  ANY  PROBLEM  TO  GET  THIS  OFFER  PLEASE CONTACT US FOR

SUPPORT ,  CLICK  SMS  BAR  ABOVE  THEN  TALK  TO  US.