Forex, oil, gold, and stocks on April 4-8
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
The USD weakened on the non-manufacturing PMI
The massive selloff in the market spread to the USD. The figures of ISM non-manufacturing PMI fell to 53.7 points (vs. the forecast of 55.5). As a result, EUR/USD has risen to the 1.1205 level. Earlier, the Stochastic indicator formed bullish divergence with the price and signaled about the move to the upside. If the current resistance is broken, the next resistance will lie at 1.1228. After the breakout, pay attention to the levels above the crossover of 50- and 100-day SMA at 1.1253. If the USD gets stronger again, the pair will retest the 1.1060 level. The next support will lie at 1.1003.
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Latest news
What’s New with Australian Unemployment Rate?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
Can the UK CPI surprise?
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Retail Sales Update
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
