Log in to today’s North American session recap – May 22, 2025
The US Dollar is back on the front of today’s major Forex performers, in a mildly volatile FX day.
Bitcoin completed its trip towards a new all-time high with a price of $112,030 hit around 3:30 P.M. ET. The rest of the crypto market appreciated (from) the news.
All American indices are closing unchanged on the day, which interrupts yesterday’s fall. They avoided getting dragged down by more sluggish European indices as the EuroStoxx index closed down 0.44%.
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A picture of today’s performance for major currencies
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Currency Performance, May 22 – Source: OANDA Labs
The USD made a comeback after a rough beginning of the week, with the DXY breaking the 100.00 psychological level before reverting. Monitor the Dollar index towards the weekly close – if we close below this key level, it may influence next week’s appetite for the US dollar.
NZD was the worst FX performer today, without much key data for today, it seems that the Kiwi simply rejected a technical top. More of this on the chart of the day below.
The Swiss Franc was the second worst today showing what seems to be position closing after USDCHF failed to make new lows.
Chart of the Day – NZDUSD 4H
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NZDUSD 4H Chart, May 22 – Source: TradingView
As may be observed on the chart above, the Kiwi rejected last highs forming a double top, dragged by some weakness in its neighbour AUD, which got hurt during the week for showing some dovishness.
The RSI entered a bearish momentum and is not in oversold territory.
For NZDUSD bulls, it would be optimal to see a rebound at the low of the Pink Channel, around 0.5880. The last support before the 0.57 handle will be at the May lows at 0.5846.
A bounce at the low of the channel hints towards the high of the channel situated at 0.6014
For bears, look to pursue the current trend with a continuation towards the low of the channel. The bear trend gets further confirmation if we break towards May lows. A breakdown hints at 0.5776 and further support at the 0.57 psychological level.
What happened in Commodities and Crypto?
Gold experienced a modest decline, closing at $3,291 down $21.90 from the previous session. The dip indicates at profit taking after a recent rally driven by concerns over U.S. fiscal stability, including Moody’s downgrade of the U.S. credit rating.
Crude oil prices declined for the third consecutive session, with West Texas Intermediate (WTI) futures closing at $61.20 per barrel, down $0.56. Although, WTI bounced at the low of its daily channel, in depth-analysis article for Oil coming up tomorrow in the NA Morning Session.
Economic Calendar for the May 23 2025 Session
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MarketPulse Economic Calendar for May 23 2025 (click to enlarge)
Fairly light Economic Calendar with mainly the German GDP which will influence the stock markets, especially with markets expecting signs of recovery from Europe’s most productive country.
There will also be Retail Sales for the UK, consensus at 0.2% M/M
Safe Trades!
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