Here is what you need to know on Friday, May 16:
Markets are exhibiting a cautious sentiment in early trading on Friday, as the US Dollar (USD) is struggling to maintain its strength against its primary counterparts. Investors are closely monitoring upcoming economic data releases from the United States, including the April figures for Housing Starts and Building Permits, which will provide insights into the health of the housing sector. Furthermore, the University of Michigan’s preliminary Consumer Sentiment Index for May will be released, offering an early indication of consumer confidence and potential spending behavior. These data points will be crucial in assessing the current economic landscape and informing future market expectations. Analysts predict that a strong showing in housing data could bolster the USD, while a weaker-than-expected Consumer Sentiment Index might exert downward pressure.
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 strength relative to the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.37% | -0.04% | -0.67% | 0.40% | -0.16% | 0.21% | -0.02% | |
| EUR | -0.37% | -0.28% | -0.47% | 0.51% | 0.08% | 0.33% | 0.09% | |
| GBP | 0.04% | 0.28% | -0.04% | 0.81% | 0.38% | 0.53% | 0.37% | |
| JPY | 0.67% | 0.47% | 0.04% | 1.06% | -0.13% | 0.02% | 0.41% | |
| CAD | -0.40% | -0.51% | -0.81% | -1.06% | -0.30% | -0.19% | -0.42% | |
| AUD | 0.16% | -0.08% | -0.38% | 0.13% | 0.30% | 0.14% | -0.03% | |
| NZD | -0.21% | -0.33% | -0.53% | -0.02% | 0.19% | -0.14% | -0.26% | |
| CHF | 0.02% | -0.09% | -0.37% | -0.41% | 0.42% | 0.03% | 0.26% |
The heat map presented above visually represents 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 functions as 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 representing the USD (base)/JPY (quote) exchange rate.
