Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Dutch election outlook buoys common currency
On Thursday, the common currency stood tall after Dutch election exit surveys pointed to a comfortable win by the prime minister over his far-right counterpart, while the greenback wallowed at a one-month minimum after the Fed sounded less hawkish than anticipated on future rate lifts.
The euro managed to surge to a five-week peak of $1.0746, having soared 1.2% overnight.
The common currency was spurred as exit surveys revealed that the Netherlands' center-right Prime Minister Mark Rutte saw off a challenge by anti-EU and anti-Islam Geert Wilders in Wednesday’s election, thus alleviating worries towards Holland opting to break up with the EU.
The dollar index against a basket of key currencies dropped 0.2%, hitting 100.560.
It went down more than 1% yesterday, touching 100.490, its lowest value since February 17.
On Wednesday, the US dollar took a knock after the Fed ended its two-day policy gathering by simply increasing interest rates just as expected, though stuck to projections of three total rate lifts in 2017.
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.