ING
May 11, 2026
FX Daily US Price Check This Week
Daily UpdateFXCommoditiesMacro Economic IndicatorsEnergyFinancials
The US Dollar remains strong as Middle East peace hopes fade and markets pivot to Tuesday's US CPI data. Energy shocks and inflation concerns dominate, while the Forint rallies on domestic political shifts.
Key Takeaways
- 1.Middle East ceasefire hopes have faded, shifting market focus to the upcoming US April CPI data.
- 2.The US Dollar is expected to remain supported by higher oil prices and potential stagflationary shocks.
- 3.European Central Bank hikes remain likely in June despite poor activity data, providing some floor for EUR/USD.
Table of Contents
- USD: Little progress in Middle East, focus on inflation
- EUR: More consolidation
- GBP: PM Starmer tries to save himself
- CEE: The forint is riding a wave of optimism
- Author
- Disclaimer
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Authors
Chris TurnerFrantisek TaborskyFrancesco Pesole
Securities
DXYUSDJPYEURUSDEURHUFUSDCNYUS Treasury
Themes
Stagflationary Energy ShockCentral Bank HawkishnessGeopolitical Impasse
Regions
North AmericaMiddle EastEuropeUnited StatesChinaIran