The Greenback saw a decent recovery during this week, against the backdrop of the generalized erratic performance in the FX space, the continuation of the monetary policy divergence, and a cautious Fedspeak.
The US Dollar managed to reverse two weeks of losses and reclaim the area beyond the 105.00 barrier amidst some consolidative mood in US yields. On May 14, Producer Prices are due, seconded by CPI prints, Retail Sales, Business Inventories, and the NAHB Housing Market Index, all due on May 15. On May 16, the Philly Fed Manufacturing Index is expected, along with the usual weekly Initial Jobless Claims, Building Permits, Housing Starts, and Industrial Production.
The UK labour market report is due on May 14, while the BoE will release its Financial Stability Report on May 16. USD/JPY resumed its uptrend largely on the back of the increasing depreciation of the Japanese yen, despite the spectre of FX intervention continuing to linger. Producer Prices are expected on May 14, followed by preliminary GDP Growth Rate and Foreign Bond Investment figures on May 16. Final Industrial production prints will close the docket on May 17.
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