Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Fresh release for the US dollar
What will happen?
The United States will publish durable goods orders on May 27, at 15:30 MT time. This is an indicator of industrial activity, that shows how many long-lasting manufacturing goods (durable goods) are ordered from domestic manufacturers. Businesses and consumers generally buy durable goods when they are confident the economy is improving. This way, a rise in indicator’s figures pushes the American currency higher.
How to trade on the Durable Goods Orders?
Check the economic calendar for analysts’ forecasts. Before the release, wait for the actual figures to be published.
- If the actual figures outperform expectations, the USD will rise.
- In case of an alternative scenario, the US dollar will fall.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.