Daily Market Analysis – 18th May, 2015
By FxGrow Research & Analysis Team
US Dollar tumbles on concerns over US Economy
On Friday University of Michigan Confidence survey fell for the month of May indicating that there is no robust rebound in the US economy. The consumer sentiment index was 88.6 for May as against the analyst expectations of 95.9
US Economy faces reduced production and employment from lower oil prices, falling exports, and rising imports from a stronger dollar.
US Industrial production fell 0.3% in April for a fifth month pushing down the dollar and U.S. bond yields.
Asian markets are down on Monday and US Dollar stays weak amid a basket of major currencies after weak signs from the US Economy.
Globally investors are concerned over the weakness of the US economy, slowdown in China and problems in the Eurozone.
Rise in the Euro zone debt yields is supporting the EURUSD which is trading above 1.1400 in the Asian trading session.
In Japan Industrial production fell to -0.8% while analyst expectations were at -0.3% for the month of April.
In Canada manufacturing sales climbed to 2.9% in March which was above the market expectations of a 1.0% gain.
Crude Oil is higher trading above 61.30$ amid news of conflicts in Yemen and Iraq.
Gold remains bullish trading at 1227.94 in the Asian trading session, while Silver is strong at 17.66
18th May 2015 – 07:18hrs GMT
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.