Here is what you need to know on Monday, May 13: Financial markets remain quiet to start the new week and major currency pairs fluctuate near the previous week's closing levels. The economic calendar will not offer any high-tier data releases on Monday and investors will continue to scrutinize comments from central bank officials. The US Dollar Index recovered modestly on Friday after declining sharply on Thursday, supported by Federal Reserve policymakers' hawkish tone.
3% on a yearly basis in April, surpassing the market expectation and March's increase of 0.1%. Australian Dollar holds ground around a psychological level, awaits Aussie Budget Release. USD/JPY trades slightly below 156.00 after rising nearly 2% in the previous week. In the early Asian trading hours of the Asian session on Tuesday, the Producer Price Index for April will be featured in the Japanese economic calendar. Gold gained 2.5% and snapped a two-week losing streak.
Source: Financial Digest (financialdigest.net)
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