EUR/USD (a 4-hour chart)
The main dollar competitors could return some of the lost ground. The positive external and internal conditions supported the demand for the single European currency. The Euro zone industrial production in April rose by 0.8% that became a pleasant surprise to players amid the whole series of macroeconomic statistics. The news from the USA played into the hands of euro bulls as well – the May retail sales release showed an increase of 0.3%, instead of the expected 0.5%.
GBP/USD is also in a demand on the background of the euro/pound cross sales. This pair renews the minimum value of the current year day after day. This simple fact supports the British currency against U.S. dollar. Moderately negative macroeconomic statistics from the U.S. retail sales also contributed to long positions.
We have seen the sales at the Japanese stock 4 days in a row. These sales put some pressure on the USD/JPY. The machinery and equipment report in April showed a decline of 9.1% which confirms the existence of problems in the manufacturing sector. This release cheered bears to open short positions on the stock exchange in Tokyo which in turn caused the yen strengthening.