Here’s what you need to know on Tuesday, May 12th.
The US dollar index (DXY) is stable around 97.95, as investors exercise caution due to ongoing geopolitical tensions in the Middle East and despite some improvements in market sentiment. This reaction came after President Trump dismissed Iran’s latest peace initiative as “totally unacceptable.” Now, traders are turning their attention to the US Consumer Price Index (CPI) report set for today.
USD price today
The table below outlines the percentage changes of the US dollar (USD) against major currencies today, showing that the dollar remains strong against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.04% | 0.15% | 0.35% | 0.02% | -0.06% | 0.07% | 0.19% | |
| EUR | -0.04% | 0.11% | 0.28% | -0.05% | -0.08% | 0.04% | 0.16% | |
| GBP | -0.15% | -0.11% | 0.17% | -0.17% | -0.20% | -0.07% | 0.04% | |
| JPY | -0.35% | -0.28% | -0.17% | -0.33% | -0.37% | -0.25% | -0.15% | |
| CAD | -0.02% | 0.05% | 0.17% | 0.33% | -0.04% | 0.03% | 0.18% | |
| AUD | 0.06% | 0.08% | 0.20% | 0.37% | 0.04% | 0.11% | 0.24% | |
| NZD | -0.07% | -0.04% | 0.07% | 0.25% | -0.03% | -0.11% | 0.14% | |
| CHF | -0.19% | -0.16% | -0.04% | 0.15% | -0.18% | -0.24% | -0.14% |
This heat map illustrates the percentage changes among key currencies, showing the relationships between the base and quote currencies.
EUR/USD has rebounded to around 1.1780, helped by a slight weakening of the USD and diminishing defensive positions in the market. There’s also a sense that risk appetite might improve. Meanwhile, the European Central Bank (ECB) may be hesitant to make significant interest rate cuts.
GBP/USD is up to approximately 1.3615, buoyed by a stabilization in market sentiment and a slow consolidation of the USD.
For USD/JPY, trading is occurring near 157.20, with Trump’s rejection of Iran’s proposal likely diminishing the Japanese Yen’s value and also affecting oil supplies.
AUD/USD is heading towards 0.7250; improved risk sentiment is driving demand for commodity-linked currencies.
WTI crude oil is climbing, nearing $98.00 per barrel as market players keep an eye on tensions in the Strait of Hormuz and their implications for global energy supplies.
Gold is approaching the $4,730 level, supported by ongoing geopolitical uncertainty and cautiousness ahead of the US CPI release.
Here’s what’s next on the docket:
Tuesday, May 12th:
- AU May Westpac Consumer Confidence
- EU April HICP
- DE May ZEW Survey Status; DE May ZEW Survey Economic Sentiment
- Australia budget announcement
- Four-week average of US ADP employment changes
- US April CPI. US April Core CPI
- US monthly budget statement for April
- Japan March current account NSA
Wednesday, May 13th:
- Australian Q1 Wage Price Index (QoQ)
- RBNZ’s QoQ inflation expectations for New Zealand’s second quarter
- FR April CPI EU standard YoY change
- EU Q1 employment change quarter-on-quarter
- EU Q1 GDP and QoQ GDP. EU Q1 GDP YoY QoQ
- EU March industrial production (month-on-month)
- US April PPI. US April core PPI
Thursday, May 14th:
- Australian May consumer inflation expectations
- UK March GDP month-on-month change. UK Q1 GDP QoQ, QoQ. UK Q1 GDP YoY QoQ
- UK March industrial production month-on-month. UK manufacturing production m/m in March
- DE April HICP YoY
- Number of new unemployment insurance claims in the US
- U.S. April retail sales month-over-month. US April Retail Sales Management Group. U.S. April retail sales (automotive month change)
- New Zealand April Business New Zealand PMI
Friday, May 15th:
- April CPI EU standard year-over-year. FR April CPI YoY
- US May NY Empire State Manufacturing Business Index
- U.S. April industrial production m/m
