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.
ZEW Sentiment Will Help the Euro
What is happening?
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2. This index represents the view of institutional investors and analysts on the current economic conditions. The ZEW survey is historically focused on the German economy, and Germany tends to lead the Eurozone economy, so the Eurozone outlook that is released on the same day tends to be overshadowed by the German data released at the same time.
The importance of the index for the economy
Usually, ZEW index gives more information about economic health as investors and analysts are highly informed about their jobs. Thus, their sentiment is nothing but important for understanding the market. There are no expectations from analysts about the next release. However, the latest reading suggested that hopes for much more substantial growth in the next six months are fading, as Europe's largest economy struggles with the latest developments in the COVID-19 pandemic as well as the persisting supply bottlenecks on production and retail trade.
December reading boosted the volatility in EUR/USD, moving it by 650 points in two hours.
How to trade on ZEW economic sentiment?
Higher numbers mean that economy is recovering, and investors are optimistic, which usually moves the euro higher.
- If the actual number is higher than expected – EUR will rise.
- Otherwise – EUR may slide against GBP and USD.
Check the economic calendar
Instruments to trade: EUR/USD, EUR/JPY, EUR/GBP, EUR/CAD.
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The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.
Bank of England Statement: What to Expect
The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT.
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The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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.
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The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
