Trade ideas on May 29
Let’s look at main movements on the market.
Retail data for the US: down again?
The US will publish headline and core retail sales at 15:30 MT time on May 15.
Instruments to trade: EUR/USD, USD/JPY, USD/CHF
While the headline retail sales show the total value, the core indicator excludes sales of automobiles due to their volatility. Based on their data, we may judge the economic activity of a country and the level of consumer spending. During the previous release, both indicators fell significantly. The headline one declined by -8.7% (vs. -8% expected). The core indicator surprised traders positively, though, if we may call it "positive". The indicator fell by "just" -4.5% (vs. the forecast of -4.9%). The pandemic hit US retailers hard as well as the US dollar. The greenback fell to the red zone on the release.Will we see a different outcome this time? There is a little chance that we do, but if that happens the US dollar will be a winner. Remember the simple rules:
• if the actual levels of indicators are higher than the forecasts, the USD will rise;
• if the actual levels of indicators are worse than the forecasts, the USD will fall.
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All attention to AUD: cash rate and RBA statement
The Reserve Bank of Australia will make a statement and release the cash rate on Tuesday, June 2, at 8:30 MT time.
USD: support from the labor data
The US job market shows first signs of improvement. Will that help the USD?
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Trade ideas on May 29
Let’s look at main movements on the market.
EUR: beating the USD so far
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
All attention to AUD: cash rate and RBA statement
The Reserve Bank of Australia will make a statement and release the cash rate on Tuesday, June 2, at 8:30 MT time.
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