Ella 
Here’s what investors need to know on Thursday, May 16:
The U.S. Dollar Index (DXY) retreated further on Wednesday and regained control of the key 200-day moving average area near 104.30. On May 16, the United States will release monthly data on building permits and housing starts, followed by the usual initial jobless claims, Philadelphia Fed manufacturing index and industrial production data. In addition, Fed officials Barr, Harker, Mester and Bostic will all speak.
EUR/USD has gained for the third consecutive session and is heading towards the 1.0900 mark on the back of further selling in the greenback.
GBP/USD is gaining further and is within striking distance of the 1.2700 mark. The Bank of England will publish its Financial Stability Report on May 16.
USD/JPY snapped a multi-day rally, falling to multi-session lows in the sub-155.00 area amid growing weakness in the U.S. dollar and a pullback in U.S. Treasury yields. First-quarter gross domestic product, final industrial production and weekly foreign bond investment are expected on May 16.
A strong intraday performance from risk assets pushed AUD/USD to levels just below the 0.6700 mark ahead of key Australian data. On May 16, Australia will release labor market data and Reserve Bank of Australia official Hunter will give a speech.
Despite the dismal report from the International Energy Agency (IEA), a larger-than-expected decline in U.S. crude oil supply and a sharp pullback in the U.S. dollar kept WTI oil prices significantly higher.
Gold prices surged to near $2,400 an ounce on rising expectations of a rate cut from the Federal Reserve, a weaker dollar and falling U.S. Treasury yields. Silver prices are not far behind, approaching a key five-week high near $30.00.
