May 12: American Session
Tatiana Norkina, analyst at FBS
U.S. dollar index is consolidating around the 79.90 mark today which it reached on Friday, but the market is expecting a report on past month's administration of the budget. So, volatility increase is possible. Major stock indexes in America are showing steady growth today. Thus, DJIA has set new highs for the past few years, rising to the 16690.50 figure (+0.55 %). S&P500 is adding about 0.73%.
It is relatively calm in the currency markets. The EUR/USD pair is consolidating in the 1.3750-1.3770 range. USD/CHF is in the sideways trend as well - the bulls can not break through 0.8780. The GBP/USD currency pair was correcting to the 1.6900 figure, but the bears have stepped up the pressure and lowered the rate to 1.6870. The Dollar is quite confident against the Japanese Yen: USD/JPY has grown to the 102.16 figure, but it may stumble upon a powerful resistance yet in the 102.20-102.25 area.