# Forex Major Currencies Outlook (May 23, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-23-2016/ Language: en Updated: 2016-05-23 Description: Explore Forex Major Currencies Outlook (May 23, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar stalled from its rallies earlier in the week, as traders likely lightened up on their holdings ahead of the weekend. There were no major reports out of the US economy then while today has the flash manufacturing PMI on tap. Analysts are expecting to see a climb from 50.8 to 51.0 to show a faster pace of industry expansion. **EUR** The euro managed to hold on to some of its recent gains as data from the region came in mixed. German PPI posted a 0.1% uptick in producer prices versus the projected 0.2% increase while the current account surplus widened to 27.3 billion EUR. Flash manufacturing and services PMI readings from Germany and France are lined up today and improvements are eyed, likely enough to support the shared currency. **GBP** The pound was one of the biggest losers on Friday, as the UK currency gave up ground on Brexit speculations and short-covering. UK data was stronger than expected, as the CBI industrial order expectations index rose from -11 to -8 instead of falling to -13. There are no major reports due from the UK today. **CHF** The franc was able to recover against most of its peers when traders booked profits off their previous short positions. There were no reports released from the Swiss economy then and none are due today, although the franc could be pushed around by euro zone data. **JPY** The yen chalked up gains across the board when rumors of the BOJ gearing up to end its quantitative easing program hit the airwaves. Traders also booked profits off their earlier short positions ahead of the G7 Summit over the weekend, as leaders discussed how competitive devaluation should be avoided. Japan’s flash manufacturing PMI and all industries index are due today. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were mostly weaker as crude oil returned some of its recent gains and Canada’s reports showed mixed results. Headline retail sales showed a larger than expected 1.0% drop while core retail sales printed a smaller than expected 0.3% dip. Headline CPI rose 0.3% while core CPI showed a stronger than expected 0.2% uptick. Canadian banks are closed for the holiday today. *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-23-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-23-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-23-2016/", "headline": "Forex Major Currencies Outlook (May 23, 2016)", "inLanguage": "en", "datePublished": "2016-05-23T08:08:56+00:00", "dateModified": "2016-05-23T08:08:56+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (May 23, 2016). USDThe US. 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