Crude Oil prices are hovering near 10-day lows, with upside attempts limited below the $98.00 line on Friday, on track to a nearly 4% weekly decline.
Commodities
Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Commodities
Silver price (XAG/USD) faces selling pressure near $76.00 during the European trading session on Friday. The white metal trades lower due to uncertainty over whether the United States (US) and Iran will reach a deal.
Indices
Deutsche Bank’s Jim Reid notes that improved sentiment around a potential Iran deal helped the S&P 500 recover earlier losses and close slightly higher.
Forex
Here is what you need to know on Friday, May 22:
Forex
AUD/USD extends its losses after a slight decline in the previous day, trading around 0.7140 during the Asian hours on Friday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains on the back foot for the third consecutive day and trades around mid-$96.00s during the Asian session on Friday.
Forex
EUR/JPY remains flat for the second consecutive day, trading around 184.70 during the Asian hours on Friday.
Commodities
Global stock markets surged as optimism over a potential U.S.-Iran peace deal fueled a broad “risk-on” rally across equities. Meanwhile, Japan’s softer April CPI data eased pressure on the Bank of Japan to tighten policy aggressively, weakening the yen and supporting regional equities. Falling bond yields, easing geopolitical tensions, and improving semiconductor supply-chain conditions further reinforced bullish sentiment across Asia Pacific markets and U.S. technology shares.
Commodities
Silver (XAG/USD) struggle to make it through the 23.6% Fibonacci retracement level of the recent fall from the monthly swing high and attracts some sellers during the Asian session on Friday.
