
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
If EUR/USD manages to break 1.1925, the way up to the 50-day moving average of 1.1960 will be open. On the flip side, if it crosses the 200-day moving average of 1.1890, it may fall to the low of April 7 at 1.1860. Upcoming US inflation data will define the movement of the pair. Ahead of that, it may move sideways.
Gold has approached the significant support level of $1724. The move below will drive the yellow metal to the key psychological mark of $1700. Besides, the strong USD is likely to press gold down. But if US sales are worse than the forecasts, the dollar will weaken and gold will rise. The move above $1745 will push the pair higher to the key resistance level of $1760.
Dollar, dollar, let’s discuss something different! For instance, EUR/GBP. There is a really interesting situation. The pair was falling from the start of the year but then reversed to the upside last week. Perhaps it’s the beginning of the new trend. Now it’s falling to the 50-period moving average of 0.8630. If may bounce off it and retest the recent high of 0.8690. The move above it will drive the pair up to the high of April 26 at 0.8730.
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
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.
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