{"id":311390,"date":"2024-05-28T13:12:54","date_gmt":"2024-05-28T07:42:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=311390"},"modified":"2024-05-28T13:12:54","modified_gmt":"2024-05-28T07:42:54","slug":"us-dollar-struggles-to-gain-traction-ahead-of-confidence-data-fedspeak-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-dollar-struggles-to-gain-traction-ahead-of-confidence-data-fedspeak-crypto-news\/","title":{"rendered":"US Dollar struggles to gain traction ahead of confidence data, Fedspeak – Crypto News"},"content":{"rendered":"

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Here is what you need to know on Tuesday, May 28:<\/p>\n

The US Dollar (USD) is having a hard time finding demand early Tuesday after weakening modestly against its major rivals on Monday.\u00a0\u00a0Housing Price Index for March, Conference Board’s Consumer Confidence Index and Dallas Fed Manufacturing Business Index for May will be featured in the US economic calendar later in the day. Several Federal Reserve<\/a> (Fed) policymakers are scheduled to deliver speeches during the American trading hours.<\/p>\n

The USD Index edged lower in the second half of the day on Monday and closed the day in negative territory. Following a three-day holiday, the benchmark 10-year US Treasury bond yield declines slightly early Tuesday and US stock index futures trade marginally higher on the day.<\/p>\n

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US Dollar PRICE This week<\/h2>\n

The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the New Zealand Dollar.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/th>\nUSD<\/th>\nEUR<\/th>\nGBP<\/th>\nJPY<\/th>\nCAD<\/th>\nAUD<\/th>\nNZD<\/th>\nCHF<\/th>\n<\/tr>\n<\/thead>\n
USD<\/th>\n\u00a0<\/td>\n-0.27%<\/td>\n-0.29%<\/td>\n-0.09%<\/td>\n-0.31%<\/td>\n-0.48%<\/td>\n-0.77%<\/td>\n-0.28%<\/td>\n<\/tr>\n
EUR<\/th>\n0.27%<\/td>\n\u00a0<\/td>\n-0.04%<\/td>\n0.20%<\/td>\n-0.02%<\/td>\n-0.28%<\/td>\n-0.60%<\/td>\n0.04%<\/td>\n<\/tr>\n
GBP<\/th>\n0.29%<\/td>\n0.04%<\/td>\n\u00a0<\/td>\n0.20%<\/td>\n-0.02%<\/td>\n-0.23%<\/td>\n-0.48%<\/td>\n0.03%<\/td>\n<\/tr>\n
JPY<\/th>\n0.09%<\/td>\n-0.20%<\/td>\n-0.20%<\/td>\n\u00a0<\/td>\n-0.26%<\/td>\n-0.42%<\/td>\n-0.61%<\/td>\n-0.22%<\/td>\n<\/tr>\n
CAD<\/th>\n0.31%<\/td>\n0.02%<\/td>\n0.02%<\/td>\n0.26%<\/td>\n\u00a0<\/td>\n-0.19%<\/td>\n-0.46%<\/td>\n-0.03%<\/td>\n<\/tr>\n
AUD<\/th>\n0.48%<\/td>\n0.28%<\/td>\n0.23%<\/td>\n0.42%<\/td>\n0.19%<\/td>\n\u00a0<\/td>\n-0.23%<\/td>\n0.27%<\/td>\n<\/tr>\n
NZD<\/th>\n0.77%<\/td>\n0.60%<\/td>\n0.48%<\/td>\n0.61%<\/td>\n0.46%<\/td>\n0.23%<\/td>\n\u00a0<\/td>\n0.48%<\/td>\n<\/tr>\n
CHF<\/th>\n0.28%<\/td>\n-0.04%<\/td>\n-0.03%<\/td>\n0.22%<\/td>\n0.03%<\/td>\n-0.27%<\/td>\n-0.48%<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)\/JPY (quote).<\/p>\n<\/div>\n<\/div>\n

The data from Japan showed that the Corporate Service Price Index rose 2.8% on a yearly basis in April, following the 2.4% increase recorded in March. Additionally, Japan’s Weighted Median Inflation Index, a key measure of the country\u2019s trend inflation, rose 1.1% in April, slowing from a 1.3% increase in March. USD\/JPY<\/strong> showed no reaction to these figures and was last seen moving sideways slightly below 157.00.<\/p>\n

Japanese Yen receives pressure after Japan’s Weighted Median Inflation shows slowdown.<\/strong><\/em><\/a><\/p>\n

Following a quiet European session, EUR\/USD<\/a><\/strong> stretched higher in the American trading hours on Monday and ended the day in positive territory. The pair holds its ground early Tuesday and was last seen trading above 1.0870.<\/p>\n

GBP\/USD<\/strong> gained 0.25% on Monday and advanced toward 1.2800 early Tuesday, reaching its highest level in two months. The pair stays relatively quiet and fluctuates at around 1.2780 to being the European session.<\/p>\n

Gold<\/strong> staged a decisive rebound and rose nearly 1% on Monday. XAU\/USD, however, seems to be struggling to preserve its recovery momentum, trading in the red below $2,350 early Tuesday.<\/p>\n

Gold price rebounds on weaker US Dollar, investors await US key data.<\/strong><\/em><\/a><\/p>\n

The Australian Bureau of Statistics reported on Tuesday that Retail Sales<\/a> rose 0.1% on a monthly basis in April. This reading followed the 0.4% decline recorded in March and came in below the market expectation for an increase of 0.2%. After closing in positive territory on Monday, AUD\/USD<\/strong> entered a consolidation phase above 0.6650 on Tuesday.\u00a0<\/p>\n

Australian Dollar rises amid subdued US Dollar ahead of looming US PCE.<\/strong><\/em><\/a><\/p>\n

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Economic Indicator<\/h2>\n
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Consumer Confidence<\/h3>\n

The Consumer Confidence index, released on a monthly basis by the Conference Board<\/a>, is a survey gauging sentiment among consumers in the United States, reflecting prevailing business conditions and likely developments for the months ahead. The report details consumer attitudes, buying intentions, vacation plans and consumer expectations for inflation, labor market, stock prices and interest rates. The data shows a picture of whether or not consumers are willing to spend money, a key factor as consumer spending is a major driver of the US economy. Generally, a high reading is bullish for the US Dollar (USD), while a low reading is bearish. Note: Because of restrictions from the Conference Board, FXStreet Economic Calendar does not provide this indicator’s figures.<\/p>\n

Read more.<\/span> <\/a><\/div>\n

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Last release:<\/strong> Tue Apr 30, 2024 14:00 <\/span><\/p>\n

Frequency:<\/strong> Monthly<\/span><\/p>\n

Actual:<\/strong> –<\/span><\/p>\n

Consensus:<\/strong> –<\/span><\/p>\n

Previous:<\/strong> –<\/span><\/p>\n

Source:<\/strong> Conference Board<\/span> <\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Here is what you need to know on Tuesday, May 28: The US Dollar (USD) is having a hard time finding demand early Tuesday after weakening modestly against its major rivals on Monday.\u00a0\u00a0Housing Price Index for March, Conference Board’s Consumer Confidence Index and Dallas Fed Manufacturing Business Index for May will be featured in the […]<\/p>\n","protected":false},"author":2,"featured_media":50155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,276,843,255,250,333,277,252,247,253,249,256,254],"class_list":["post-311390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-commodities","tag-cryptocurrency","tag-currencies","tag-economicindicator","tag-gta","tag-looks-rare","tag-macroeconomics","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=311390"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311390\/revisions"}],"predecessor-version":[{"id":311394,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311390\/revisions\/311394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/50155"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=311390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=311390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=311390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}