Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
USD trends: insights from retailers
What will happen?
The USA will post Retail Sales and Core Retail Sales on May 14, at 15:30 MT time. The indicators measure the change in the total value of sales at the retail level. The core release excludes automobile sales due to their high volatility. Last month, both of them impressed bulls of the USD with strong figures. While the headline indicator advanced by 9.8%, the core one showed a solid improvement of +8.4%. Will the situation be different this time?
How to trade on the indicators of Retail Sales?
Check the economic calendar for forecasts, and follow the steps below:
- If the indicators are greater than the forecasts, buy USD in the short-term;
- In case of an alternative scenario, sell the USD in the short-term.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.