# Forex Major Currencies Outlook (May 24, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-24-2017/ Language: en Updated: 2017-05-24 Description: Explore Forex Major Currencies Outlook (May 24, 2017). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar regained some ground in recent trading as market watchers are shifting their focus back to economic data and June rate hike expectations. FOMC member Kashkari indicated that he’s still on the fence, citing that jobs growth has been impressive but that inflation is heading the wrong way. Medium-tier US reports were mixed, with flash manufacturing PMI posting a surprise drop and the services PMI showing a stronger improvement. The Richmond manufacturing index and new home sales figures also disappointed. FOMC minutes are due today and any confirmation that a June rate hike is on the table could stoke the dollar’s gains. **EUR** The euro managed to hold on to most of its recent gains as PMI reports came in mostly stronger than expected, except for the French flash manufacturing PMI. The German Ifo business climate index advanced from 113.0 to 114.6. German GfK consumer climate data is due today, ahead of a speech by ECB head Draghi. Cautious remarks from the central bank head could prevent the shared currency from extending its rallies. **GBP** The pound was one of the weaker performers of the bunch as traders are still reeling from the Manchester Arena attack. This adds to the uncertainty leading up to the snap elections and Brexit negotiations, especially since ISIS has claimed responsibility for the bombing. Public sector net borrowing and CBI realized sales data also disappointed. There are no reports due from the UK today. **CHF** The franc was able to hold on to some of its gains as risk appetite remained weak in the European region. Swiss trade balance was weaker than expected at a surplus of 1.97 billion CHF versus the projected 2.87 billion CHF figure. There are no reports due from Switzerland today so market sentiment could be responsible for the direction of franc pairs. **JPY** The yen slid slightly lower as traders renewed demand for the dollar ahead of the release of the May FOMC meeting minutes. Japanese data also turned out weaker than expected as the flash manufacturing PMI is down from 52.7 to 52.0 while the all industries activity index tumbled by 0.6% versus the projected 0.4% drop. There are no reports due from Japan today so risk sentiment could stay in play. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were able to hold their ground, with the Kiwi extending its flight. Canadian wholesale sales turned out weaker than expected with a 0.9% gain versus the projected 1.1% increase while New Zealand’s trade balance churned out a larger than expected 578 million NZD surplus. Australia’s quarterly construction work done fell 0.7% versus the projected 0.5% fall. The BOC statement and US crude oil inventories report are lined up next. *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-24-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-24-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-24-2017/", "headline": "Forex Major Currencies Outlook (May 24, 2017)", "inLanguage": "en", "datePublished": "2017-05-24T07:44:17+00:00", "dateModified": "2017-05-24T07:44:17+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (May 24, 2017). USDThe US. 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