|

Forex Today: All the attention shifts to US Inflation data

In a very positive start to the new trading week, the Greenback edged sharply higher following a fresh bout of optimism on the trade front, all after the auspicious US-China trade talks over the weekend.

Here is what you need to know on Tuesday, May 13:

The Dollar Index (DXY) rebounded markedly and came just pips away from the key 102.00 barrier, or five-week highs, following the encouraging tone from the recent US-China trade discussions. Markets participants will focus on the US Inflation Rate, seconded by the NFIB Business Optimism Index, and the API’s weekly report on US crude inventories.

EUR/USD collapsed to multi-week troughs near 1.1060 in response to the strong rebound in the US Dollar across the board. Attention now turns to the ZEW Economic Sentiment surveys in Germany and the euro area..

GBP/USD slipped back to the 1.3140 region on the back of the strong resurgence of the bid bias around the Greenback. The BRC Retail Sales Monitor and the release of the labour market figures will take centre stage across the Channel.

USD/JPY rose further and advanced to new six-week tops around the 148.60 zone following the improved sentiment around the US-China trade front. Traders’ focus will be on the release of the BoJ’s Summary of Opinions.

AUD/USD broke below the 0.6400 support, resuming its decline amid the continuation of the strong rebound in the US Dollar. The Westpac Consumer Confidence survey, NAB Business Confidence, Building Permits, and Private House Approvals are all due in Oz.

WTI gathered extra steam and flirted with three-week highs north of the $63.00 mark per barrel following auspicious news from the US-China trade front.

Gold prices remained on the defensive and revisited the area of monthly lows near the $3,200 mark per troy ounce amid the stronger US Dollar, higher US yields and extra optimism on the US-China trade conflict. Silver prices managed to bounce off daily troughs below the $32.00 mark ounce, ending the day with just humble losses.

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD flatlines below 1.1800 ahead of Fed Minutes

EUR/USD struggles to find direction and continues to move sideways below 1.1800 for the second consecutive day on Tuesday as markets remain in holiday mood. Later in the American session, the Federal Reserve will publish the minutes of the December policy meeting.

GBP/USD retreats to 1.3500 area following earlier climb

GBP/USD loses its traction and trades flat on the day near 1.3500 after rising to the 1.3530 area early Tuesday. Trading conditions remain thin ahead of the New Year holiday, limiting the pair's volatility. The Fed will publish December meeting minutes in the late American session.

Gold rebounds toward $4,400 following sharp correction

Gold gathers recovery momentum and advances toward $4,400 on Tuesday after losing more than 4% on Monday. Increased margin requirements on gold and silver futures by the Chicago Mercantile Exchange Group, one of the world’s largest trading floors for commodities, prompted widespread profit-taking and portfolio rebalancing.

Tron steadies as Justin Sun invests $18 million in Tron Inc.

Tron (TRX) trades above $0.2800 at press time on Monday, hovering below the 50-day Exponential Moving Average (EMA) at $0.2859.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).