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2. Forex- Dollar trims gains vs. rivals as U.S. data disappoints.
Forex- Pound edges down from 6-month peak vs. stronger dollar.
Forex- EUR/USD pares losses after weak UoM report.
www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 18-May
INTERNATIONAL CURRENCY BUZZ
GBP/USD
EUR/USD
GBP/USD hit 1.5746 during European morning trade, the session low; the pair subsequently
consolidated at 1.5741, slipping 0.22%.The pound edged lower against the U.S. dollar on Friday,
pulling back from a six-month peak as the greenback recovered from the previous session's
mixed U.S. data and as investors awaited the release of additional U.S. reports later in the day.
Cable was likely to find support at 1.5630, the low of May 13 and resistance at 1.5816, Thurs-
day's high and a six-month high. The weak inflation data reinforced expectations that the Fed-
eral Reserve will hold off on raising interest rates until the economic recovery is on a stronger
footing.
EUR/USD eased off 1.1324, the pair's lowest since May 12, to hit 1.1295 during U.S. morning
trade, still down 0.12%.The euro pared losses against the U.S. dollar on Friday, after data showed
that U.S. consumer sentiment deteriorated to the lowest level since November 2014, adding to
concerns over the strength of the economic recovery. The pair was likely to find support at
1.1201, the low of May 12 and resistance at 1.1444, Thursday's high and a three-month high.
The University of Michigan said in a preliminary report that its consumer sentiment index fell
to a seven-month low of 88.6 this month from 95.9 in April. Analysts had expected the index to
decline to 96.0 in May. The UoM also said its inflation expectations for the next 12 months
ticked up to 2.9% this month from 2.6% in April.
3. Iforex Market Insight
Date-: 18-May
www.epicresearch.sgIforex Market Insight Report By Epic Research Singapore
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
Monday, May 18, 2015
All Day Holiday Canada - Victoria Day
05:00 AUD RBA Assist Gov Lowe Speaks
57 min JPY Industrial Production (MoM) (Mar) -0.3% -0.3%
57 min JPY
Tertiary Industry Activity Index
(MoM)
-0.5% 0.3%
12:45 CHF Retail Sales (YoY) (Mar) -2.7%
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