# Forex Major Currencies Outlook (May 05, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-05-2016/ Language: en Updated: 2016-05-05 Description: Explore Forex Major Currencies Outlook (May 05, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar was able to regain ground in recent sessions, even though data from the US came in mixed The ADP non-farm employment change printed a meager 156K gain in hiring versus the projected 205K increase, suggesting a possible downside surprise for the NFP. On the other hand, the ISM non-manufacturing PMI rose from 54.5 to 55.7, higher than the consensus at 54.7. For today, initial jobless claims are up for release and a 261K reading is eyed. **EUR** The euro consolidated to the dollar and yen but was able to advance against commodity currencies when euro zone data came in mostly in line with expectations. German final services PMI and Italian services PMI both beat expectations but euro zone retail sales fell 0.5% instead of printing the estimated 0.1% uptick. Euro zone banks are closed in observance of Ascension Day today. **GBP** The pound was in a weak spot against most of its forex rivals as the UK construction PMI came in weaker than expected. The reading fell from 54.2 to 52.0 to indicate a much slower pace of industry growth. For today, the services PMI is due and a drop from 53.7 to 53.6 is expected, with another downbeat result likely to push the pound lower. **CHF** The franc returned some of its recent wins despite the lack of top-tier reports from Switzerland. There are no reports lined up from the Swiss economy today since banks are closed in observance of Ascension Day. **JPY** The yen was slightly weaker against its forex peers since Japanese traders were out on a holiday. There are no reports up for release from the Japanese economy today which means that risk sentiment could drive yen pairs around. **Commodity Currencies (AUD, NZD, CAD)** The Loonie was one of the weakest performers as the forest fires in Alberta led to the shutdown of some oil operations in the area. US crude oil inventories rose 2.8 million barrels, which suggests that oversupply concerns are still present. Australian retail sales showed a 0.4% uptick versus the projected 0.3% gain while the trade deficit narrowed from 3.04 billion AUD to 2.16 billion AUD, driven by a 4% gain in exports. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-05-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-05-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-05-2016/", "headline": "Forex Major Currencies Outlook (May 05, 2016)", "inLanguage": "en", "datePublished": "2016-05-05T06:55:35+00:00", "dateModified": "2016-05-05T06:55:35+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (May 05, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-05-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "Forex Major Currencies Outlook (May 05, 2016)", "item": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-05-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```