Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.
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
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