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?
Will the situation change for the British pound?
The reports that the UK and the EU reached a deal pushed the GBP up immediately. However, the optimism turned out to be short-lived, as Northern Ireland's DUP party did not approve the agreement. In addition, the leader of the Labour party Jeremy Corbyn said that the current deal was worse than the deal by Theresa May. The Parliament is expected to make a significant vote on a new Brexit deal on Saturday. If the deal is rejected, the chances of a no-deal Brexit or a further delay of the key Brexit deadline (October 31) will increase. It will pull the GBP lower. The GBP/USD pair has tested the highs above the 1.2970 level on the news but has fallen towards the support at 1.2745 after negative comments by the DUP members. The next support level will be placed at 1.2686. If Mr. Johnson manages to reassure the market with some positive updates, the pair will retest the 1.2876 level. After that, the next resistance levels will be placed at 1.2920-1.2943.
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Monday started with volatility
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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.
