Posted at 20 May 2026 / Categories Market Roundups
Market Roundup
• US Crude Oil Inventories: -7.863M, -2.500M forecast, -4.306M previous.
•US Cushing Crude Oil Inventories: -1.604M, -1.702M previous.
•US Heating Oil Stockpiles: 0.021M, 0.153M previous.
•US Gasoline Inventories: -1.548M, -2.100M forecast, -4.084M previous.
•US Crude Oil Imports: 0.003M, -0.318M previous.
•New Zealand Trade Balance (MoM) (Apr): 1,920M, 980M forecast, 430M previous.
• New Zealand Trade Balance (YoY) (Apr): -2,760M, -3,490M previous.
• New Zealand Imports (Apr): 6.70B, 7.23B previous.
• New Zealand Exports (Apr): 8.62B, 7.66B previous.
Looking Ahead Economic Data (GMT)
• 00:30 Japan au Jibun Bank Services PMI (May): 51.0 previous.
• 00:30 Japan Manufacturing & Services PMI (May): 52.20 previous.
• 00:30 Japan au Jibun Bank Manufacturing PMI (May): 54.5 forecast, 55.1 previous.
• 02:00 Australia MI Inflation Expectations (May): 5.9% previous.
• 02:30 Australia Unemployment Rate (Apr): 4.3% forecast, 4.3% previous.
• 02:30 Australia Employment Change (Apr): 16.7K forecast, 17.9K previous.
• 02:30 Australia Full Employment Change (Apr): 52.5K previous
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Summaries
EUR/USD : The euro recovered on Wednesday as dollar dipped on rising hopes that the U.S. is nearing a deal with Iran to end the war in the Middle East. U.S. President Donald Trump said negotiations with Iran were in the final stages. Trump acknowledged in an interview with Fortune magazine published on Monday that he ?may need to wait until the war with Iran concludes before rate cuts become feasible.Trump said on Tuesday the United States may need to strike Iran again, adding ?that he had been an hour away from ordering an attack before postponing it.Concerns are growing that inflation linked to the war may become more entrenched in core consumer spending, driving expectations of higher interest rates and a more hawkish stance ?from central banks. Immediate resistance can be seen at 1.1661(Daily high), an upside break can trigger rise towards 1.1705(SMA 20).On the downside, immediate support is seen at 1.1581(23.6%fib), a break below could take the pair towards 1.1526(April 7th low).
GBP/USD: Sterling recovered on Wednesday after comments from President Donald Trump pointing to progress in Middle East negotiations, helped lift broader risk appetite.Improved global sentiment saw US equities rally, Treasury yields ease, and precious metals strengthen, supporting a recovery in risk-sensitive currencies like sterling.The pair initially weakened after softer-than-expected UK inflation data, which reinforced expectations that the Bank of England may remain cautious on further tightening.Despite the late rebound, the UK macro backdrop remains mixed, with ongoing concerns around political uncertainty, fiscal pressures, and still-elevated inflation risks limiting upside conviction.Immediate resistance can be seen at 1.3462(Daily high), an upside break can trigger rise towards 1.3509(SMA 20).On the downside, immediate support is seen at 1.3309(38.2%fib), a break below could take the pair towards 1.3227 (Lower BB).
USD/CAD: The Canadian dollar weakened as commodity linked loonie weakned as oil prices fell on increased hopes of a deal to end the Middle East conflict.Data on Tuesday showed Canada’s consumer price index rose 2.8% year-on-year in April, below forecasts for 3.1%, while key underlying inflation measures also eased.The swap market has priced in about 40 basis points of tightening from the BoC this year, down from 54 basis points before the inflation data.Bank of Canada has said that it might have to respond with consecutive interest rate hikes if oil prices stay high and begin pushing up inflation.Geopolitical concerns eased after President Donald Trump said the Middle East war would end “very quickly,” while Vice President JD Vance highlighted progress in peace negotiations. Immediate resistance can be seen at 1.3704(50%fib), an upside break can trigger rise towards 1.3782(Higher BB).On the downside, immediate support is seen at 1.3678(SMA 20), a break below could take the pair towards 1.3678(61.8%fib)
USD/JPY: The U.S. dollar eased on Wednesday as yen edged higher on growing concerns that Japanese authorities could step into the FX market to curb excessive yen weakness.Traders remain cautious about the possibility of fresh FX intervention by Japan’s Ministry of Finance (MOF), especially with authorities continuing to monitor rapid yen weakness closely.Attention is also turning toward the Bank of Japan, after US Treasury Secretary Scott Bessent again commented that the BOJ should be allowed to continue raising interest rates, reinforcing market expectations for tighter Japanese policy.Many market participants in Tokyo now anticipate a 25 basis point BOJ rate hike in June, which would lift the policy rate to 1.0%, marking another significant step away from Japan’s ultra-loose monetary stance. Immediate resistance can be seen at 159.08(38.2%fib) an upside break can trigger rise towards 159.00(Psychological level) .On the downside, immediate support is seen at 158.23(SMA 20) a break below could take the pair towards 157.78(50%fib ).
Equities Recap
European shares ended Wednesday near two-week highs, supported by gains in defence and technology stocks as investors positioned ahead of a key earnings release from U.S. chipmaker Nvidia.
UK's benchmark FTSE 100 closed up by 0.99 percent, Germany's Dax ended up by 1.38 percent, France’s CAC finished the day up by 1.70 percent.
Wall Street’s main indexes rallied more than 1% on Wednesday, rebounding from a three-day losing streak as sentiment improved across technology and semiconductor stocks ahead of Nvidia’s quarterly earnings.
Dow Jones closed up by 1.31 percent, S&P 500 closed up by 1.08 percent, Nasdaq settled up by 1.55 percent.
Commodities Recap
Gold prices rose 1% on Wednesday, as hopes for a resolution to the Iran conflict pressured oil markets, relieving some inflation fears and knocking U.S. Treasury yields from their recent highs.
Spot gold gained 1.1% to $4,531.99 per ounce by 14:10 p.m. ET (1810 ?GMT). Prices hit their lowest in more than seven weeks earlier in the session. U.S. ?gold futures for June delivery settled 0.1% higher at $4,535.30.
Oil prices fell about 6% on Wednesday after U.S. President Donald Trump said negotiations with Iran were in the final stages, triggering a sharp drop as markets priced in the possibility of easing supply risks from the Middle East.
Brent crude futures settled $6.26, or 5.63%, lower at $105.02 a barrel and U.S. West Texas Intermediate futures were down $5.89, or 5.66%, at $98.26.