- Market sentiment for the EUR/USD currency pair showing bearish signals.
- Bullish outlook for the EUR/GBP as the EUR strengthens against the GBP.
- UK retail sales saw a large decrease, causing investor confidence for the currency to fall.
USD gains ground on the EUR in light of further expected increases in yields in May
The Dollar has strengthened against the EUR since the market opened this morning, in general the dollar is strengthening against all currencies at the moment. After the prelims on private sector PMIs this morning, the EUR originally gained some ground against the USD but has since fallen again, possibly as a result of the new expected increases in U.S yields in May, causing more investor confidence in the USD.
EUR/USD Price Chart
EUR gains on the GBP as expectations arise for ECB to increase yields.
Since the market opened this morning, market sentiment for this currency pair is bullish. The Euro has gained ground on the GBP inlight of the Private sectors PMIs announcements this morning as well as the expectations that the European Central Bank could increase yields in July.
EUR/GBP Price Chart
GBP Weakens against the USD
Since the market opened this morning, market sentiment for this currency pair is bearish. The GBP has weakened against the USD inlight of the announcement of the Feds intentions to increase the U.S yields by a further 50bps, at the same time, UK retail sales saw a large decrease. This fall counteracted the strengthening seen after the increased expectations of the BoE’s interest rates.
GBP/USD Price Chart
Related article: https://www.fxmag.com/forex/ecb-announcements-to-possibly-tighten-monetary-policy-strengthens-the-euro-eur-usd-eur-gbp-aud-nzd-and-eur-chf-all-increased
The Japanese Yen strengthened against the AUD today.
Market sentiment for this currency pair is showing as mixed. In general the JPY has been weakening in the past days. This weakening had pushed the value of this currency pair higher, however, since the market opened this morning, the AUD has weakened against the JPY.
AUD/JPY Price Chart
Sources: finance.yahoo.com, dailyfx.com