{"id":65664,"date":"2022-05-19T03:52:38","date_gmt":"2022-05-18T23:52:38","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=65664"},"modified":"2022-05-19T03:52:41","modified_gmt":"2022-05-18T23:52:41","slug":"market-drivers-us-session-wed-18-may","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-wed-18-may\/05\/19\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 Wed. 18 May"},"content":{"rendered":"\n

The US dollar Index was unable to attract speculative interest, now hovering around $1,816 a troy ounce. Crude oil prices edged lower, with WTI now changing hands at $106.90 a barrel. The yield on the US 10-year Treasury note stands below 2.90%, as investors rushed into bonds\u2019 safety.

The EUR\/USD pair trades around 1.0460, while GBP\/USD is now at 1.2340. The AUD\/USD pair plunged to 0.6960 while USD\/CAD recovered the 1.2800 threshold. On the other hand, the USD\/CHF fell to 0.9880 while USD\/JPY trades in the 128.20 price zone.

Economic Data:
<\/strong>
Inflation was the major catalyst of the latest bout of risk aversion. The EU Consumer Price Index was confirmed at 7.4% YoY in April, while the UK CPI increased by 9% in the year to April. Finally, the Canadian benchmark hit 6.8%. Overheating price pressures are a drag on economic growth, already undermined by supply-chain issues and the Eastern European crisis.

Other Developments:
<\/strong>
The US dollar edged higher against its high-yielding rivals but eased against safe-haven currencies, reflecting the dismal market mood.

Two US institutes, Wells Fargo and S&P, downwardly revised growth forecasts but expect inflation to remain high. Wall Street resumed its slump, with the three major indexes sinking in the red. The DJIA is about to close over 1,100 lower, while the S&P 500 and the Nasdaq Composite are down over 4% each.

Also Read
USD\/JPY observes selling pressure on stronger yen.<\/a><\/p>\n\n\n\n

USD\/CAD retreats as oil stabilizes near $106.50<\/a><\/p>\n\n\n\n

Fed\u2019s Harker: Soft Landing Possible, Recession Not Likely<\/a><\/p>\n\n\n\n

AUD\/USD reacts to Australia employment data<\/a><\/p>\n\n\n\n

US Equities slump as retailers ghost investors<\/a><\/p>\n\n\n\n

EUR\/USD Impacted As Investors Abandon High yielding Assets<\/a><\/p>\n\n\n\n

Cryptocurrencies build momentum for a flash crash<\/a><\/p>\n\n\n\n

Canada\u2019s Headline Inflation Could Accelerate Again In May<\/a><\/p>\n\n\n\n

USD\/CAD price at a critical support structure and eying 1.2950<\/a><\/p>\n\n\n\n

Gold Prices Impacted by risk-aversion<\/a><\/p>\n\n\n\n

WTI crude retreats towards $110 on sentiment deterioration<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The US dollar Index was unable to attract speculative interest, now hovering around $1,816 a troy ounce. Crude oil prices edged lower, with WTI now changing hands at $106.90 a barrel. The yield on the US 10-year Treasury note stands below 2.90%, as investors rushed into bonds\u2019 safety.The EUR\/USD pair trades around 1.0460, while GBP\/USD …<\/p>\n","protected":false},"author":13,"featured_media":52669,"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":[7987,6987,6871,7685,7167],"class_list":["post-65664","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cpi-data","tag-inflation","tag-usd","tag-wti-crude-oil","tag-yen"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65664","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=65664"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65664\/revisions"}],"predecessor-version":[{"id":65668,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65664\/revisions\/65668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52669"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=65664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=65664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=65664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}