Here is what you need to know on Thursday, May 1:
The US Dollar (USD) is exhibiting continued strength against its major counterparts in early trading on Thursday. The USD Index has surged, breaching the 100.00 mark to reach a two-week high, reflecting renewed investor confidence in the American economy. Today’s US economic docket includes the Challenger Job Cuts report, providing insights into corporate downsizing trends, and the release of the Institute for Supply Management (ISM) Manufacturing PMI data for April, a key indicator of manufacturing sector activity. Furthermore, the weekly Initial Jobless Claims figures will be closely scrutinized for any shifts in the labor market. It is important to note that European markets will be closed today in observance of the Labor Day holiday, potentially leading to reduced liquidity in certain currency pairs. Market participants will be keenly awaiting these data releases to gauge the overall health of the US economy and to anticipate potential shifts in Federal Reserve policy. Recent hawkish comments from several Fed officials have further bolstered the dollar’s appeal.
US Dollar PRICE This week
The table below illustrates the percentage change in the value of the US Dollar (USD) against a selection of major currencies over the course of this week. Analysis reveals that the US Dollar has demonstrated the most significant gains against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.57% | 0.13% | 0.52% | -0.41% | 0.16% | 0.54% | -0.19% | |
| EUR | -0.57% | -0.49% | -0.02% | -0.99% | -0.51% | -0.04% | -0.77% | |
| GBP | -0.13% | 0.49% | 0.44% | -0.49% | -0.04% | 0.45% | -0.28% | |
| JPY | -0.52% | 0.02% | -0.44% | -0.93% | -0.36% | -1.41% | -0.48% | |
| CAD | 0.41% | 0.99% | 0.49% | 0.93% | 0.45% | 0.95% | 0.23% | |
| AUD | -0.16% | 0.51% | 0.04% | 0.36% | -0.45% | 0.49% | -0.26% | |
| NZD | -0.54% | 0.04% | -0.45% | 1.41% | -0.95% | -0.49% | -0.73% | |
| CHF | 0.19% | 0.77% | 0.28% | 0.48% | -0.23% | 0.26% | 0.73% |
The heat map presented above provides a visual representation of the percentage changes between major currencies. The currency listed in the left column serves as the base currency, while the currency listed in the top row is the quote currency. For instance, selecting the US Dollar from the left column and tracing horizontally to the Japanese Yen will display the percentage change for the USD/JPY pair.
