Here is what you need to know on Wednesday, May 15: The US Dollar (USD) is finding it difficult to stay resilient against its major rivals in the European morning on Wednesday.
Here is what you need to know on Wednesday, May 15: The US Dollar is finding it difficult to stay resilient against its major rivals in the European morning on Wednesday. Eurostat will publish the preliminary Gross Domestic Product data for the first quarter. Later in the day, the Consumer Price Index and Retail Sales data for April will be featured in the US economic docket alongside the NYEmpire State Manufacturing Index.
After falling toward 1.2500 in the early American session on Tuesday, GBP/USD reversed its direction and advanced toward 1.2600 later in the day. The pair holds steady slightly below this level in the European morning. The data from Australia showed in the Asian session that the Wage Price Index rose 0.8% on a quarterly basis in the first quarter. Although this print came in slightly below the market expectation of 0.9%, it failed to trigger a noticeable in AUD/USD.
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