# Forex Major Currencies Outlook (May 12, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-12-2016/ Language: en Updated: 2016-05-12 Description: Explore Forex Major Currencies Outlook (May 12, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar gave up ground to its forex counterparts as there were no major reports to give it any support yesterday. Initial jobless claims and import prices data are up for release today, along with speeches from FOMC member Rosengren and George. **EUR** The euro managed to regain some ground to the dollar but was weaker to the comdolls. There were no major reports out of the euro zone then while today has medium-tier data like German WPI, French final CPI, and euro zone industrial production numbers due. **GBP** The pound could be in for a lot of volatility as the BOE statement, MPC minutes, and Inflation Report are all lined up today. A downbeat statement is eyed since business conditions and trade activity have weakened recently. UK manufacturing production posted a mere 0.1% uptick while industrial production missed expectations with a meager 0.3% gain versus the projected 0.7% rise. **CHF** The franc regained ground to the dollar but weakened to the euro. There were no reports out of Switzerland yesterday and none are due today, keeping the franc sensitive to euro price action. **JPY** The yen got back on its feet yesterday as risk appetite improved in the Asian markets. Japan’s leading indicators came in better than expected with its 98.4% reading versus the consensus at 96.4%. Earlier today, the current account balance came in line with expectations while bank lending data showed a 2.2% pickup in activity. **Commodity Currencies (AUD, NZD, CAD)** The comdolls advance against their peers after the US crude oil inventories report showed a drop of 3.4 million barrels in stockpiles. This eased oversupply concerns somewhat, as the reduction stemmed from Venezuela and further declines are expected from Canada in the coming weeks. New Zealand retail sales data are up for release next and slightly weaker figures are eyed. The headline figure could post a 1.0% gain while the core figure could show a 1.1% increase. *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-12-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-12-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-12-2016/", "headline": "Forex Major Currencies Outlook (May 12, 2016)", "inLanguage": "en", "datePublished": "2016-05-12T05:00:28+00:00", "dateModified": "2016-05-12T05:00:28+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (May 12, 2016). USDThe US. 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