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May 17, 2021

The U.S Dollar index fell against the basket of six major currencies to end Thursday’s trading session in the red

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The U.S Dollar index fell against the basket of six major currencies to end Thursday’s trading session in the red Territory at 94.68 pressured by U.S inflation data.

On Thursday the US Department of Labor Statistics announced that the annual Core Consumer Price Index remained flat at 2.2 percent while analysts expected an increase of 0.1 percent while the annual CPI including Food and Energy fell more than expected by 0.1 percent reaching 2.3 percent. Moreover, the monthly Core CPI remained steady at 0.1 percent.

In Eurozone, after the balanced budget of Italy achieved a higher than expected deficit target at 2.4 percent, the country’s Senat agree on the proposal to push back the budget from 2020 to after 2021.

However, the Euro benefited from weaker greenback as it rose against the U.S Dollar to end the session in the green at 1.1593 EURUSD. Also, the Great British Pound rose against the greenback to end the session in the positive territory at 1.3233 GBPUSD.

In Canada, the Greenback also fell against the Loonie to end the session lower at 0.3031 USDCAD despite the decline in oil prices during Thursday’s session where U.S Crude Oil closed down at $70.93 a barrel.

In terms of safe-havens, the greenback fell against the Japanese Yen and Swiss Franc to close the session in the red at 112.15 USDSJPY and 0.9893 USDCHF. Regarding the precious metals, gold prices rose sharply against the Greenback to close yesterday’s session in the green at 1223.90.

Elsewhere in Asia, both the Aussie and Kiwi rose against their U.S counterpart to end the session on positive notes at 0.7123 AUDUSD and 0.6523 NZDUSD.

In cryptocurrencies pace, Bitcoin, Litecoin and Ethereum fell against the U.S Dollar to settle down at 6181.21 BTCUSD, 50.12 LTCUSD and 195.06 ETHUSD.

 

Ali Hwary

Ali Hwary

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