The USD may be supported by the releases
The United States anticipates the release of headline and core durable goods orders on May 24, at 15:30 MT time.
Greenback rebounds from 1-month minimum versus yen
On Tuesday, the evergreen buck bounced off a one-month minimum versus Japan’s currency because a selloff in global stocks relived, while the New Zealand dollar managed to surge after positive inflation data overnight.
The currency pair USD/JPY rallied by 0.31% having reached a one-month low of 111.61 on Monday.
The Japanese yen, valued by traders as a safe haven during market turmoil, headed south because key Asian equities ascended overnight, although financial markets were still wary after a week of huge losses.
Stock markets have been heavily affected after the previous week American Treasury gains jumped to their highest value since 2011 in the face of expectations that the key US bank will keep lifting interest rates, thus affecting the value of equities.
Fears over the impact of trade clash on the health of the world’s economy as well as worries over higher crude prices have powered the selloff too.
Estimating the American dollar’s purchasing potential against a number of its primary rivals the USD index went down by 0.07% trading at 94.70.
Market sentiment on the evergreen buck was affected on Monday after data disclosing that American retail sales barely surged in September. However, the same report also showed that consumer spending concluded the third quarter with firm momentum.
The common currency managed to ascend. The currency pair EUR/USD added 0.11% being worth 1.1592, although profits were held in check after Italy’s populist cabinet had its fresh budget approved, notwithstanding criticism from Brussels that it’s in breach of EU fiscal regulations.
Besides this, the UK currency gained ground. As a matter of fact, the currency pair GBP/USD soared by up to 0.28% hitting 1.3187 due to the fact financial markets waited for the latest British jobs report against the backdrop of deadlocked Brexit talks.
The currency pair NZD/USD soared by 0.31% hitting 0.6569.
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Does the British pound have any chance?
As the Brexit situation does not become any brighter, the British pound suffers, too.
A chance for the British pound
Great Britain will release the level of CPI on May 22, at 11:30 MT time.
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RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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