USD gains against all the major currencies in May

The USD is ending the month with gains against all the major currencies.

The greenback was strongest against the AUD - up 4.95% for the month. IN May, the RBA cut rates to 1.75% from 2% on May 3rd. That got the ball rolling to the downside for the AUDUSD.

The dollar rose the least against the GBP which benefited from increased expectations that the Brexit would a "No". Coming into today, the GBP was up on the month vs the dollar, but the weakness today, turned the pair back lower to the benefit of the USD.

In the US stock market this month:

  • The S&P index ended the month up 1.53%
  • The Nasdaq composite closed up 3.62%
  • The Dow industrial average was up 0.08%

In the overseas stock markets, the Nikkei rose by the most with a 3.41% gain. The Hang Send composite was the worst performer of the major indices with a -1.20% decline. In Europe, the German Dax increased by 2.23% on the month, the French CAC rose by 1.73% and the Euro Stoxx index rose by 1.16%. The UK FTSE ended the month little changed at -0.18%.

In other markets

  • Gold closed April at 1292.60. The current price is 1217.50 - a decline of 5.80%
  • Crude oil rose from $46.69 to $48.93 or about 4.8%.
  • 10 year US note rose from 1.8333 to 1.8493 or 0.97%
  • 10 year German bund yield fell from 0.271% to 0.139%.- a decline of 13 basis points