Here is what you need to know on Friday, May 2:
After ascending to a three-week peak near 100.40 on Thursday, the US Dollar (USD) Index is undergoing a correction to the downside as the European trading session commences. Market participants are keenly awaiting the release of April employment data from the US Bureau of Labor Statistics later today. This pivotal data release will encompass key indicators such as wage inflation, the Unemployment Rate, and the highly anticipated Nonfarm Payrolls figures. Economists are forecasting a moderate increase in nonfarm payrolls, while any significant deviation from these expectations could trigger substantial market volatility. Prior to the US data, the European economic calendar will feature the preliminary Harmonized Index of Consumer Prices (HICP) data for April. The HICP is closely monitored by the European Central Bank (ECB) as its preferred metric for gauging inflation within the Eurozone. Analysts predict a slight uptick in the core HICP, which excludes volatile components like food and energy, suggesting persistent inflationary pressures within the region. The ECB will be closely scrutinizing this data as it deliberates on future monetary policy decisions.
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 exhibited the strongest performance relative to the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.39% | 0.08% | 1.13% | -0.38% | -0.31% | 0.42% | -0.12% | |
| EUR | -0.39% | -0.37% | 0.71% | -0.79% | -0.81% | 0.02% | -0.54% | |
| GBP | -0.08% | 0.37% | 1.10% | -0.41% | -0.46% | 0.38% | -0.16% | |
| JPY | -1.13% | -0.71% | -1.10% | -1.47% | -1.39% | -2.09% | -0.99% | |
| CAD | 0.38% | 0.79% | 0.41% | 1.47% | -0.05% | 0.80% | 0.26% | |
| AUD | 0.31% | 0.81% | 0.46% | 1.39% | 0.05% | 0.83% | 0.25% | |
| NZD | -0.42% | -0.02% | -0.38% | 2.09% | -0.80% | -0.83% | -0.54% | |
| CHF | 0.12% | 0.54% | 0.16% | 0.99% | -0.26% | -0.25% | 0.54% |
The heat map presented above visually represents the percentage changes in value between major currencies. The base currency is selected from the left-hand column, while the corresponding quote currency is chosen from the top row. For instance, selecting the US Dollar (USD) from the left column and tracing horizontally to the Japanese Yen (JPY) will display the percentage change representing the USD/JPY exchange rate.
