Weekly employment data for the US: what to expect?
The United States will release the weekly Initial Jobless Claims on May 13, at 15:30 MT time
Will the FOMC lift the USD?
What will happen?
The US Fed provides a Statement and a Press Conference on April 28, at 21:00 MT time.
FOMC is the primary source of potentially impactful information about the economic outlook in the US. Lately, we have become accustomed to the fact that the interest rate will be kept steady in the nearest future – that’s why it’s not what observers will be looking at. Rather, the details of the Fed’s message about the dynamics of the US economic recovery will be the key element. If they are encouraging, the USD is likely to rise. Otherwise, if there are doubts about the steadiness of the economic recovery process in the US, the US dollar may lose value.
How to trade the Fed’s announcement?
If optimistic projections of a steady economic recovery ahead in the US are confirmed, the USD will likely gain value on traders’ risk-on moods. A more pessimistic outlook would press on the US dollar.
- Optimistic/hawkish Fed projections make the USD rise;
- Modest/dovish Fed report presses on the USD.
Instruments to trade: EUR/USD, GBP/USD, AUD/USD, USD/CAD
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Will inflation push the greenback higher?
The United States will publish a monthly Inflation Rate and Core Inflation Rate on May 12, at 15:30 MT time.
Inflation concerns led tech stocks down and gold up
Stocks especially tech ones dropped on Tuesday on concerns over inflation. Gold is viewed as a hedge against inflation, that’s why it’s trading now near the three-month high.
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USD trends: insights from retailers
The USA will post Retail Sales and Core Retail Sales on May 14, at 15:30 MT time.
US inflation today will hugely impact USD and gold
The main focus of traders will be on US inflation at 15:30 GMT+3. Analysts expect the huge spike of the US inflation.
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