Week Ahead May 1st – 5th
FUNDAMENTOS Y ASPECTOS TÉCNICOS DEL EUR/USD
Pair closed last week’s trading session marginally higher after another week of choppy trading. The mixed economic releases from both side the EU and the US are keeping traders on hold. In the US the positive durable goods orders overshadowed by the negative gross domestic product. In the EU the lower inflation rate was overshadowed by ECB’s officials’ comments that the central bank will continue increasing interest rates even though the inflation in Euro-zone is registering softer levels in the last 2 months.
As for this week, Traders and investors, will mainly focus on the FOMC minutes due to be release on Wednesday. And the ECB interest rate decision and press conference due to be released on Thursday. Both central banks are expected to raise rates by 0.25%. This rate hike is already priced-in in the US Dollar pairs and will not have any significant impact on the pair. Although the press conference that will follow will guide investors and traders on what’s next. A dovish comment form FED’s Powell could trigger aggressive sell off in the US Dollar and push the pair higher. ECB expectation of 0.25% could spook investors as some officials already signaled 0.5% during their last week’s comments. Heavy week ahead on the economic calendar with many high impact releases. All eyes will be on the inflation numbers and the US non-farm payroll.
En el calendario económico, tenemos el lunes el PMI manufacturero ISM de EE.UU. apuntando al alza en 50,4, el martes, las ventas minoristas alemanas de nuevo a la baja en -6,1%, el índice armonizado europeo de precios al consumo se mantendrá sin cambios en 6,9%. El viernes, las ventas minoristas europeas se situarán en -1,5% y las nóminas no agrícolas estadounidenses en 181.000 nuevos puestos de trabajo.
Technically the picture is positive after last week’s close above 23.6%. In this week’s trading session if pair continues on the upside will re-test 1.1070 peak of April. If breaks and close above 1.1070 will open the road for 1.1200 Alternatively, if pair resumes downside we are expecting to re-test 1.0800 Our traders maintain open their short positions as of 1.0900 to 1.1030 targeting profits at 1.0700 We are expecting more aggressive short sellers on the way up and new buyers to appear at 1.0800 (38.2%)
FUNDAMENTOS Y ASPECTOS TÉCNICOS DEL GBP/USD
Pair closed last week’s trading session higher on mixed economic releases from the US and the lack of any economic releases from the UK. Pair got the chance to break higher on US dollar’s weakness, as traders and investors, are pricing-in already the 0.25% rate hike of this week and they are positioning for a dovish FOMC meeting.
As for this week, traders and investors will focus on the FOMC minutes due to be released on Wednesday and the US non-farm payroll due to be released on Friday. The light economic calendar in the UK will be overshadowed by the heavy economic calendar in the US. Once again, the pair will be in the mercy of the US Dollar. FED is expected to raise rates by 0.25%, a rate hike that is well priced-in the pair. Investors will closely follow the press release, as, a dovish speech from FED’s Powell will accelerate gains in the pair.
En el calendario económico tenemos el lunes el PMI manufacturero ISM de EE.UU. apuntando al alza en 50,4 el martes, el PMI manufacturero del Reino Unido se mantendrá sin cambios en 46,6 el miércoles se espera que el empleo ADP de EE.UU. muestre 150.000 nuevos puestos de trabajo el PMI de servicios ISM se espera que suba a 53,1 el jueves, el PMI compuesto del Reino Unido se mantendrá estable en 53,9 el viernes, se espera que la cifra de nóminas no agrícolas de EE.UU. muestre 181.000 nuevos puestos de trabajo.
Technically the pair is positive after last week’s break and close on a higher level. As for this week if pair continues on the upside could test another 100pips higher at 1.2650 Alternative if resumes the downside, and breaks below 23.6% will retest 38.2% Short sellers are standing between 1.2200 – 1.2520 targeting profits at 1.2000 we are expecting more aggressive short sellers on the way up and new buyers to appear around 1.2064 targeting profits above 1.2200
Para conocer con más detalle los acontecimientos del calendario económico, visite nuestro calendario económico en directo en:
https://tentrade.com/economic-calendar/
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