From Investing.com: 2025-05-19 05:52:00

Asian Session Market Wrap: US stock futures fell and Treasury yields rose after Moody’s downgraded the US credit rating from AAA to AA1 due to a growing budget deficit. China’s industrial output rose 6.1% in April, beating expectations, but slowed from March. Consumer spending grew by 5.1%, below forecast, blamed on US tariffs. Commodity sector weakened, but a trade-in program boosted home appliance sales.

The European Open: European stocks fell as US credit downgrade and weak Chinese data hurt investor confidence. Luxury stocks dropped after below-expected retail sales in China. BNP Paribas shares rose on a buyback plan, while Volkswagen shares fell without dividend rights. FX rates fluctuated, with the dollar weakening against some currencies.

Technical Analysis – US Dollar Index (DXY): The DXY may rally, but fundamental pressures and Moody’s downgrade have weakened the USD. Support at 99.57 if 100.00 level breaks, while bullish momentum may continue if 100.00 holds. RSI below 50 indicates a shift in momentum, with caution in market sentiment affecting the dollar’s movement.



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