Here’s what you need to know for Wednesday, May 20:
The US Dollar Index (DXY) is strengthening towards 99.30 after the latest ADP jobs report showed US private employers added an average of 42,250 jobs over the previous four weeks, the highest reading since the weekly series began in October 2025.
Meanwhile, US President Donald Trump said that “we may have to deal another blow to Iran” and added that “Iran is begging for a deal,” reigniting concerns about a possible escalation in the Middle East and growing demand for a sheltered haven.
Today’s US dollar price
The table below shows the current percentage change of the United States Dollar (USD) against the major listed currencies. The US dollar was strongest against the Australian dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.45% | 0.24% | 0.11% | 0.09% | 0.86% | 0.65% | 0.58% | |
| EUR | -0.45% | -0.20% | -0.31% | -0.35% | 0.43% | 0.23% | 0.14% | |
| GBP | -0.24% | 0.20% | -0.11% | -0.15% | 0.61% | 0.44% | 0.35% | |
| JPY | -0.11% | 0.31% | 0.11% | -0.05% | 0.72% | 0.55% | 0.45% | |
| BOOR | -0.09% | 0.35% | 0.15% | 0.05% | 0.77% | 0.58% | 0.50% | |
| AUD | -0.86% | -0.43% | -0.61% | -0.72% | -0.77% | -0.18% | -0.27% | |
| NZD | -0.65% | -0.23% | -0.44% | -0.55% | -0.58% | 0.18% | -0.09% | |
| CHF | -0.58% | -0.14% | -0.35% | -0.45% | -0.50% | 0.27% | 0.09% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select the US dollar from the left column and move along the horizontal line to the Japanese yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
EUR/USD is weakening towards the 1.1610 region as rising US Treasury yields and stronger demand for the US dollar (USD) put pressure on the common currency. The euro also remains subdued after European Central Bank (ECB) officials warned that long-term demographic challenges could weigh on euro zone economic growth prospects despite resilient labor market conditions.
GBP/USD falls to around 1.3400 with robust USD strength dominating market sentiment. Sterling remains under pressure as investors continue to monitor the UK’s volatile fiscal outlook.
USD/JPY is heading towards the 159.00 zone, supported by higher US Treasury yields and renewed safe-haven demand following Trump’s comments on Iran.
AUD/USD falls towards 0.7110 as a stronger USD and cautious market sentiment weigh on risk-sensitive currencies.
West Texas Intermediate (WTI) crude is rising toward $104.30 a barrel on fears of renewed tensions involving Iran, raising concerns about potential disruptions to global energy flows and shipping lanes near the Strait of Hormuz.
Gold is losing ground near the $4,480 region as investors prefer the dollar as a sheltered haven amid uncertainty in the Middle East.
What’s next on the docket:
Wednesday, May 20:
- Chinese PBoC decision on interest rates
- Inflation data in the UK in April (CPI, core CPI, PPI, RPI)
- Germany April Harmonized Consumer Price Index
- New Zealand trade data for April (exports, imports, trade balance)
- Australia S&P flash global PMIs for May
- Trade data in Japan in April (exports, imports, trade balance)
Thursday, May 21:
- Australia May consumer inflation expectations
- Data on the labor market in Australia in April (employment change, labor force participation rate, unemployment rate)
- Germany April Producer Price Index
- Switzerland Q1 Industrial production
- France May Preliminary HCOB PMIs
- Germany May Preliminary HCOB PMIs
- Preliminary HCOB PMIs for the EU in May
- Flash global S&P UK PMIs for May
- US housing data in April (building permits, home construction starts)
- U.S. jobless claims, May Fed manufacturing survey in Philadelphia
- S&P flash global PMIs for May in the US
- Initial EU consumer confidence in May
- Retail sales in the first quarter of New Zealand
- Great Britain May GfK consumer confidence
- Japan in April CPI
Friday, May 22:
- Gross domestic product for the first quarter in Germany
- UK retail sales in April
- Germany May IFO survey (business climate, current assessment, expectations)
- Retail sales in March in Canada
- Consumer sentiment and inflation expectations in the US in May in Michigan
Frequently asked questions about WTI crude oil
WTI Oil is a type of crude oil sold on international markets. WTI stands for West Texas Intermediate, one of three main types, including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” due to its relatively low weight and low sulfur content. It is considered a high-quality oil that can be easily refined. It originates in the United States and is distributed through the Cushing Junction, considered the “Crossroads of the World.” It is a reference point for the crude oil market, and the WTI price is often quoted in the media.
Like all assets, supply and demand are key factors influencing the price of WTI crude oil. Therefore, global growth may drive increased demand and, conversely, feeble global growth. Political instability, wars and sanctions can disrupt supply and affect prices. Another key factor influencing prices are the decisions of OPEC, the group of major oil-producing countries. The value of the US dollar affects the price of WTI crude oil because oil is mainly sold in US dollars, so a weaker US dollar can make oil more affordable and vice versa.
Weekly crude oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Administration (EIA) influence the price of WTI crude oil. Inventory changes reflect fluctuations in supply and demand. If the data shows a decline in inventories, it may indicate increased demand, which will result in an boost in the price of oil. Higher inventories may reflect increased supply, which causes prices to fall. The API report is published every Tuesday and the EIA report the following day. Their results are usually similar and are within 1% of each other 75% of the time. EIA data is considered more reliable because it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 oil-producing countries that jointly decide on production quotas for member countries at meetings held twice a year. Their decisions often influence the prices of WTI crude oil. When OPEC decides to cut quotas, it can tighten supply, which will push up oil prices. OPEC increasing production has the opposite effect. OPEC+ refers to an expanded group that includes ten additional non-OPEC members, the most notable of which is Russia.
