In today's foreign exchange market, consolidation prevails, with notable exceptions in the yen and yuan. The US dollar is showing strength, reaching its highest level since suspected intervention, with attention now turning to the crucial technical level near JPY157.
Despite softer UK labor data initially weighing on sterling, it managed to recover after holding above the $1.25 mark.
Equities display mixed performance, with US index futures seeing minimal change.
Gold shows resilience near $2346 after a recent 1% decline, while June WTI hovers around $79, showing little movement.

Asia Pacific Markets 
Japan's April PPI figures hold little sway, with the year-over-year rate remaining steady at 0.9%. Attention shifts to CPI, expected to rise as household energy subsidies roll off in the coming months.
The dollar strengthened against the yen, breaching JPY156 in North American trading and reaching JPY156.55 today, its highest level since the post-intervention low.
The Australian dollar, meanwhile, maintains stability within the May 3 range.

European Markets
A modest recovery appears underway in the eurozone and UK following a lackluster second half of 2023. Germany's ZEW survey for May shows improvement for the third consecutive month, reaching its highest level since last August. Last week, the UK reported Q1 2024 GDP growth of 0.6%, surpassing expectations and marking a turnaround from two consecutive quarters of contraction.
The euro remains steady, not dipping below $1.0780 in North American trading and even touching a new session high just above $1.0805.
Sterling, after holding above $1.2550, experienced some selling pressure, nearing $1.2500 earlier today.

American Markets
US markets typically show little sensitivity to US producer prices, although components like healthcare and portfolio management affect personal consumption expenditures. Following the PPI release, Governor Cook speaks at a NY Fed event, but the spotlight is on Fed Chair Powell, set to address a Dutch bank event.
The US dollar maintains stability against the Canadian dollar, trading within the pre-weekend range and holding within yesterday's levels.