US FX Handover: Decent Data a Delight for Dollar
Matt Weller, CFA, CMT May 16, 2019 4:17 PM
- Today’s second-tier US economic data was generally solid, with jobless claims printing at 212k vs. 220k expected and April housing starts coming in at 1235k vs. 1209k eyed.
- UK press reports that Theresa May is a “dead certainty” to resign this summer, regardless of what happens with her withdrawal agreement bill.
- The US dollar was the strongest major currency on the day as a result.
- The aussie was the weakest major currency today after a report from “RBA Watcher” Terry McCrann suggested the central would cut interest rates at its early June meeting.
- WTI tested its 2-week high on elevated geopolitical tensions between the US and Iran.
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