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?
USD: waiting for the reaction of the US purchasing managers
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Instruments to trade: EUR/USD, USD/JPY, USD/CHF
Purchasing managers' index or PMI is an indicator based on the survey of purchasing managers in the manufacturing industry. It demonstrates businesses' attitudes toward the current market situation. If the indicator is higher 50, it shows the expansion of an industry, while an indicator below 50 signals a contraction. Due to the unstable situation in the US market, the index reached only 50.1 points (vs. 50.5 points expected) last time. It pulled the USD lower in the short-term.
• If the actual level of indicator is higher than the forecasts, the USD will strengthen;
• If the actual level of indicator is lower than the forecasts, the USD will weaken.
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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.
