Market Overview May 8

Investors are now awaiting new data from other significant tech companies, including Apple this week, following the publication of financial reports by Tesla, Alphabet, and Microsoft last week.

Economic News
08 Mei 2024

As investors' attention turned to corporate earnings and the Federal Reserve's policy meeting this week, the dollar fell against the majority of its main competitors on Monday.

Investors are now awaiting new data from other significant tech companies, including Apple this week, following the publication of financial reports by Tesla, Alphabet, and Microsoft last week.

Major US stock indices saw a surge last week, helped mostly by the equities of significant IT companies.

The week's biggest event for traders will be the Federal Reserve's policy meeting, which is predicted to result in no change in interest rates.

The dollar index saw a session high of 106.09 and a low of 105.4 before falling 0.3% to 105.6 as of 19:28 GMT.

Loonie

At 19:43 GMT, the Canadian currency appreciated 0.1% versus the US dollar to 0.732.

Australian

As of 19:43 GMT, the Australian dollar was valued at 0.6566, up 0.5% from the US dollar.

The Euro

At 19:43 GMT, the EUR/USD pair increased by 0.3% to 1.0722.

According to earlier official data, German consumer prices increased by 0.5% m/m in March, less than predicted by 0.6%.

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Robert Thompson

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