News & Analysis

European Round-Up: Thursday 23rd May

May 24, 2019

Economic News Releases

  • US Initial Jobless Claims at 211k vs. 215k forecast
  • US Continuing Claims at 1676k vs. 1669k forecast
  • Mexico Bi-Weekly CPI YoY at 4.4% vs. 4.5% forecast
  • Mexico Bi-Weekly Core CPI at 0.1% vs. 0.1% forecast
  • US New Home Sales MoM at -6.9% vs. -2.5% forecast

To keep up to date with the upcoming economic events click here for our Economic Calendar.

Forex

  • Pound Sterling

Pound slipping to its lowest level since 3rd January today against the US Dollar, however, we did see it recover towards the end of the session, down by 0.01%.

Today we saw reports that the UK Prime Minister Theresa May is under pressure to resign after backlash from MP’s over her latest Brexit deal.

Sterling weakened the most against the Japanese Yen, trading at the lowest level since 15th January down by 0.37% on the day. Yen stronger across the board today.

GBPUSD – Daily

  • Euro

The Euro falling to its lowest level in two years against the US Dollar today, trading at 1.11 level during the session.

It did recover towards the session, finishing the day 0.15% higher.

EURUSD- Daily

Forex Majors Summary

Commodities 

Oil suffering considerable losses today with both US Crude and Brent down by 5.20% and 4.10% respectively.

US Crude dipping below $58 per barrel level, its lowest level since 13th March – worst day off losses this year. Brent down by 4.10%, trading at $67.90 level towards the end of the European session.

Unlike the energy commodities, metal commodities gaining during the session today.

We saw Gold trading $1,286 level at the end of the day – up by 1.01%. Silver at $14.60 gaining by 1.18%.

USOUSD – Daily

Indices

All of the global Indices trading in negative territory today.

Biggest losses were seen in Europe with both DAX30 and FTSE100 trading lower by 1.66% and 1.48% respectively.

We saw Dow Jones Industrial Average tumble by around 400 points at the US open as the trade war between two of the worlds largest economies continues. Both Dow and S&P 500 down by 1.20% and 1.21% at the end of the European trading day.

Global Indices Summary

Cryptocurrencies

Losses for all major digital currencies.

Ethereum experiencing the most losses down by 4.27%, dipping to its lowest level of the week. XRP suffering similar losses, down by 4.22% on the day trading at $0.37 level.

Cryptocurrency Summary

By Klavs Valters  
 @klavsvalters

Sources: GO Markets MetaTrader 5, Datawrapper, Tradingview, CoinMarketCap, Bloomberg

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