
Russian-Ukrainian conflict is influencing every economic aspect…
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
EUR/USD dropped significantly after the better-than-expected NFP report yesterday. Nevertheless, today, the EUR may rise as US coronavirus cases are increasing, while Europe new infections are declining. If the pair rises to the 50-period moving average at 1.1250, it may surge further to the yesterday high at 1.1265. After that it may meet the next resistance already at 1.1300. Look for support levels at recent lows at 1.1230 and 1.1210.
S&P 500 is rallying despite record US infections. Now it’s heading towards the resistance at the June 19 at 3 200. If it crosses it, it may surge further to 3 225 and then to the all-time high at 3 3390. Support levels are at the 200-moving average at 3 025 and at the key psychological mark at 3 000.
The AUD gained on the positive retail data. It surged to the resistance at 0.695. The move above this level will push the price upward to the high of June 23 at 0.697. Support levels are 0.691 and 0.689.
Gold is stuck near the $1 775 level. The move above the 8-year high at $1 780 will encourage bulls to go long further on gold. Most analysts still highly expect the gold price to break through $1 800. The break below the low of June 24 at $1 760 may push prices to the next support at the 50-day moving average at $1 727.
Russian-Ukrainian conflict is influencing every economic aspect…
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
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!
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.
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