{"id":101595,"date":"2024-05-24T01:55:24","date_gmt":"2024-05-23T21:55:24","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=101595"},"modified":"2024-05-24T04:31:58","modified_gmt":"2024-05-24T00:31:58","slug":"market-drivers-us-session-may-22","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-may-22\/05\/24\/market-updates\/","title":{"rendered":"Market Drivers; US Session, May 22"},"content":{"rendered":"\n<p>The US Dollar (USD) surged to multi-day highs due to reduced expectations of a rate cut in September, positive data from US business activity in May, and a hawkish stance from the Federal Open Market Committee (FOMC).<br><br><strong>Currency Pairs:<\/strong><\/p>\n\n\n\n<p>EUR\/USD: Experienced its fourth consecutive session of losses, testing the 1.0800 support.<\/p>\n\n\n\n<p>GBP\/USD: Reversed four days of gains, retreating from recent highs near 1.2760.<\/p>\n\n\n\n<p>USD\/JPY: Surpassed the 157.00 barrier, reaching two-week highs amid a dollar rebound and rising US yields.<\/p>\n\n\n\n<p>AUD\/USD: Weakened further, breaching the 0.6600 support due to a stronger Dollar and overall risk aversion.<br><br><strong>Commodities:<\/strong> <\/p>\n\n\n\n<p>WTI crude oil prices declined, hitting new lows near $76.00 per barrel, driven by dollar strength and speculation that the Fed may maintain its restrictive stance.<br><br>Gold and Silver: Both metals faced losses, with Gold revisiting the $2,330 zone per troy ounce and Silver dropping close to $30.001.<br><br><strong>Key Events on May 24 Include:<\/strong><\/p>\n\n\n\n<p>Durable Goods Orders: This economic indicator will be in focus.<br>Michigan Consumer Sentiment: The final reading will provide insights into consumer confidence.<br>Speech by FOMC\u2019s Waller: His remarks may impact market sentiment.<br><br><strong>Also Read:<br><\/strong><a href=\"https:\/\/noortrends.ae\/en\/us-stocks-decline-following-us-data-fomc-minutes\/05\/24\/market-updates\/\">US stocks decline following US data, FOMC minutes<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/oil-prices-decline-for-fourth-session-ahead-of-busy-travel-plans\/05\/23\/market-updates\/\">Oil prices decline for fourth session ahead of busy travel plans<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/dow-accelerates-loss-on-diminishing-rate-cut-hopes\/05\/23\/market-updates\/\">Dow accelerates loss on diminishing rate cut hopes<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/gold-faces-threat-below-major-trendline-after-us-data-release\/05\/23\/market-updates\/\">Gold Faces Threat Below Major Trendline After US Data Release<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/us-dollar-continues-to-benefit-from-fomc-minutes\/05\/23\/market-updates\/\">US dollar continues to benefit from FOMC minutes<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/will-us-houses-fit21-bill-boost-cryptocurrencies\/05\/23\/market-updates\/\">Will US House\u2019s FIT21 Bill boost cryptocurrencies?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Dollar (USD) surged to multi-day highs due to reduced expectations of a rate cut in September, positive data from US business activity in May, and a hawkish stance from the Federal Open Market Committee (FOMC).Currency Pairs: EUR\/USD: Experienced its fourth consecutive session of losses, testing the 1.0800 support. GBP\/USD: Reversed four days of &hellip;<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7770,7603,10360],"class_list":["post-101595","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fomc-minutes","tag-gold-prices","tag-wti-price"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=101595"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101595\/revisions"}],"predecessor-version":[{"id":101616,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101595\/revisions\/101616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=101595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=101595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=101595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}