This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
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.
The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!
Before Joe Biden sat face-to-face with Xi Jinping on Monday night at a seaside resort in Bali, US officials played down hopes for tangible progress. The outcome easily exceeded those low expectations.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.