Forexlive Americas FX news wrap 20 May. Nasdaq closes at record. USD moves higher.
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The Nasdaq closed at a record high and the USD strengthened in North American trading on May 20, 2024. Crude oil settled at $79.80. Cleveland Fed President Mester stated that monetary policies are restrictive and the neutral rate may be higher. Microsoft introduced Copilot Plus PCs, causing the price of MSFT to move closer to an all-time high. The IMF reported that the Russian Federation raised its gold holdings by 3.110 tonnes to 2,335.93 tonnes in April. US Defense Secretary Austin wants Israel to carry out more precise strikes in geopolitics. SF Fed President Mary Daly expressed uncertainty about inflation coming down to 2%. European major indices closed higher. Fed Governor Jefferson stated that it is too early to say if April CPI started a new trend. Fed Governor Barr described Q1 inflation as disappointing and did not provide confidence to ease policy. Sky News Arabia suggested that Israel should invade Lebanon to completely destroy Hezbollah. Fed Governor Waller did not comment on monetary policy or the economy. The GBP was the strongest currency, while the NZD was the weakest. US yields moved higher, and US stocks ended the session with mixed results.

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