Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
The USD may move on the retail indicators
The United States will release the headline and core retail sales at 15:30 MT on November 15.
The indicators represent the change in the total value of sales at the retail level. The difference of the core indicator from the headline one is that the former excludes automobile sales due to their high volatility. Last time both of the indicators came out lower than the forecasts. While advance retail sales dropped by 0.3% (vs. the anticipated increase by 0.3%), the retail sales without autos fell by 0.1% (vs. +0.2% expected). The disappointing figures pulled the USD lower. Let’s see how the release affects the USD this time.
• If the indicators are greater than the forecasts, the USD will rise;
• If the indicators are weaker than the forecasts, the USD will fall.
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
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.