US FX Handover: Quiet Day Concludes, Traders Look Ahead to Powell
Matt Weller, CFA, CMT May 20, 2019 3:57 PM
See a summary of the top FX themes and trends from today's US session!
- With little in the way of economic data released and minimal movement on the market’s biggest geopolitical concerns (US-China trade war and Iranian), FX markets were generally quiet in today’s US session.
- The Aussie was the strongest major currency today after the surprise (majority?) victory for Australian PM Scott Morrison.
- The US dollar was the day’s weakest major currency as Fed speakers stuck to the recent script. Chairman Powell will take the stage to update his thoughts at 7:00pm ET (0:00 GMT).
- Oil (WTI) ticked up less than 1%, while gold held steady.
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