The Hottest May Week Starts Today

The Hottest May Week Starts Today

Happy labor day, traders! Today, some markets may experience lower liquidity because of national holidays in many countries. Here’s what you shall expect this week:

(All times are in GMT+3 time zone)


  • Bank holiday: China, Swiss, UK, France, Germany, Italia
  • 17:00, US ISM Manufacturing PMI


  • 07:30, Australia Cash Rate and Rate Statement
  • 12:00, EU CPI Flash Estimate
  • 14:30: RBA Gov Lowe Speaks
  • 17:00, US JOLTS Job Openings


  • 01:45, New Zealand Employment Change
  • 15:15, US ADP Non-Farm Employment Change
  • 17:00, US ISM Services PMI
  • 21:00, FOMC Statement and Fed Funds Rate


  • 15:15, EU Monetary Policy Statement
  • 15:30, US Unemployment Claims
  • 15:45, ECB Press Conference


  • 04:30, RBA Monetary Policy Statement
  • 09:30, Swiss CPI
  • 15:30, Canadian Employment Change
  • 15:30, US NFP and Average Hourly Earnings

This week is one of the most important weeks ahead. FOMC statement will define how the markets will move in May, and US NFP will surely add fuel to the fire. Moreover, here’s what drives the market today.

  • Some OPEC+ countries began a reduction in oil production. XBRUSD gained 2.40% on Friday.
  • May is a historically weak month for US stocks, and pre-election May is historically even weaker than a regular May. US500 is trading around the resistance level of 4170.
  • The yen continues to decline after the last speech of the new head of the Central Bank of Japan. For the first time, Haruhiko Kuroda openly stated that, like his predecessor, he would continue to print money for now. He is even ready to speed up the printing press if necessary.
  • The US IRS plans to release tax guidance on cryptocurrencies throughout the year.
  • Wall Street expects Apple to post its weakest quarterly results since the start of the pandemic.

Gold is in focus for sellers

The metal broke through the support trendline and reached $1978. We still wait for it to plunge deeper and touch the order block.

The lower yellow area represents the demand zone. Thus, XAUUSD will likely bounce from it and rise to the supply area at around $2003-2015.

Note that it's way safer to wait for the main economic releases of the week (FOMC Statement) and open your trades after. Otherwise, your trade might be closed by a fake movement. 


May this week bring you excellent results!




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