The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Sterling descends in Asia as election opinion surveys eyed
On Tuesday, the British pound moved down in Asia because opinion surveys demonstrated a tightened feud ahead of the June 8 election, while traders noted that the campaign to date turned to be closer than previously expected.
The currency pair GBP/USD sank 0.27%, offering an outcome of 1.2806. USD/JPY hit 111.13, sliding 0.12%. AUD/USD reached 0.7420, descending 0.24%.
Meanwhile, in Australia, building approvals leapt 4.4%, quite above the 3% month-on-month revenue expected for April.
Japan posted that household spending figures for April tacked on 0.5%, unlike a 1.1% revenue observed month-on-month. Additionally, jobs data demonstrated unemployment rate intact at 2.8%, while retail sales tacked on a more than expected 3.2%.
Overnight, the US currency was nearly intact versus key currencies, staying above the previous week’s six-and-a-half month minimums, with American financial markets unavailable for the Memorial Day holiday.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.