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AUD/NZD flat for the week around 1.2050

FXstreet.com (Barcelona) - AUD/NZD is last at 1.2055, off early NY session fresh almost 4-week highs at 1.2120, printed on the back of worst US ISM Manuf PMI since year 2009. Aussie spiked first to the upside stronger than Kiwi, but then Kiwi started catching up, thus leaving the cross flat for the week so far.

According to IFR Markets analysts, they have been calling for a reversal in recent week, now claiming a “major low likely in place recently at 1.1825,” IFR says. “Only a strong daily close below 1.1980 would alter bullish outlook,” analyst at IFR Richard Sexton concludes.

In his view, key resistance to the upside once above recent almost 4-week high at 1.2120, shows at Feb lows and 50 day MA at 1.2150, while to the downside, most important support “for any coming dip,” Richard says, lies at the 1.1980/1.2000 area, in case May 21/23 highs at 1.2030 can't hold.

United Kingdom May BRC Retail Sales Monitor - All (YoY) up to 1.8% vs -2.2%

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Commodities Brief: Precious metals finish higher as USD slides

The precious metals markets have started the week on a positive note, with the gold and silver bulls seeming to find confidence as the greenback traded lower across the board (DXY closed down 0.80% at 82.68) on weaker than expected ISM data released during the New York session.
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