# Forex Major Currencies Outlook (May 30, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-30-2016/ Language: en Updated: 2016-05-30 Description: Explore Forex Major Currencies Outlook (May 30, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar regained ground against its peers when Fed Chairperson Yellen didn’t sound too cautious in her testimony last Friday. She confirmed that a rate hike would probably be appropriate in the coming months, acknowledging that the US economy continues to recover and that the labor market has made a lot of progress. However, she also cautioned that wage and productivity growth are weak. The US GDP was upgraded from 0.5% to 0.8% as expected but the UoM consumer sentiment index was downgraded from 95.8 to 94.7. US banks are closed for Memorial Day today. **EUR** The euro sold off sharply to the dollar but recovered to the yen on Friday. There were no reports released from the euro zone then while today has German import prices, preliminary CPI, and Spanish flash CPI due, providing traders an idea of how the region’s CPI estimates might turn out. **GBP** The pound retreated to the dollar but scored more gains against its other counterparts. There were no reports out of the UK economy then while banks are closed for the holiday today. **CHF** The franc broke out of its consolidation to the dollar and chalked up losses, as there were no reports to support the Swiss currency on Friday. The Swiss KOF economic barometer is due today and a rise from 102.7 to 102.9 is eyed, likely providing the currency a bit of support. **JPY** The yen gave up ground across the board on Friday, as traders dumped the yen in favor of the safe-haven dollar after Yellen’s testimony. The BOJ core CPI was weaker than expected a 0.9% versus the projected 1.0% reading. Over the weekend, Japan reported a 0.8% decline in April retail sales versus the estimated 1.2% drop. Japanese household spending, industrial production, and jobless rate are due in the next Asian session. **Commodity Currencies (AUD, NZD, CAD)** The comdolls resumed their declines to the dollar but managed to hold on to their wins against the yen. Earlier today, Australia reported a 4.7% drop in HIA new home sales and a 4.7% decline in quarterly company operating profits. New Zealand building consents data is due 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-30-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-30-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-may-30-2016/", "headline": "Forex Major Currencies Outlook (May 30, 2016)", "inLanguage": "en", "datePublished": "2016-05-30T08:39:10+00:00", "dateModified": "2016-05-30T08:39:10+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (May 30, 2016). USDThe US. 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