April 7th – 11th
EURUSD pair closed last week’s trading session higher on weaker US Dollar as a result of US president Trump tariff started as of April 2nd and on tariff retaliation from many other countries, with the main one China with 34% on all US products. Trade war between US and the rest of the world has triggered a sell off in global markets and weighted negative on US Dollar as recession fears spreading rapidly between investors. The higher than expected Nonfarm payroll could not help neither the US Dollar neither the equity markets, as investors and traders are preparing for the worst. FED’s Powel on a speech late Friday, predicted higher inflation and slower growth due to Trump’s tariff policy.
As for this week, traders and investors will mainly focus on the inflation numbers from both the US and EU. Traders and investors will closely monitor tariff retaliation from UK and Europe. A harsh retaliation could trigger new sell off in US equity markets and US Dollar.
On the economic calendar we have on Monday, the European retail sales pointing higher at 1.8% On Wednesday FOMC minutes. On Thursday, US CPI expected lower at 2.6% On Friday, German Harmonized index of consumer prices to remain unchanged at 2.3% US producer price index higher at 3.6% and Michigan consumer sentiment lower at 54.5
Technically the picture is positive after last week’s close above (61.8%) at 1.0956 In this week’s trading session if pair trades on the upside will test 1.1133 (100%) A break out and close above 1,1133 will open the road for 1.1200 If trades on the downside will test 1.0773 (61.8%) A break and close below 1.0773 will add downside pressure and test 1.0661 Our traders are net short positions between 1.0647 – 1.1133 targeting profits at 1.0661 if pair trades on the downside we are expecting take profits on short positions and new long positions starting at 1.0661
GBPUSD pair closed last week’s trading session lower after a sharp upside move triggered by US Dollar sell of as a result of trade war between US and rest of the world. The higher than expected Nonfarm payroll could not help neither the US Dollar neither the equity markets, as investors and traders are preparing for the worst. FED’s Powel on a speech late Friday, predicted higher inflation and slower growth due to Trump’s tariff policy.
As for this week, traders and investors will mainly focus on the inflation number from the US Traders and investors will closely monitor tariff retaliation from UK and Europe. A harsh retaliation could trigger new sell off in US equity markets and US Dollar.
On the economic calendar we have on Thursday, US CPI with expectation to be lower at 2.6% On Friday, UK Gross domestic product expected higher at 0.1%, UK manufacturing production higher at 0.2%, US producer price index higher at 3.6% and Michigan consumer sentiment lower at 54.5
Technically the pair’s overall picture is positive after last week’s close above 61.8% at 1.2891 As for this week, if pair trades on the upside, will test 1.3208 (100%) A break and close above 1.3208 will open the road for 1.3300 Alternative, if trades on the downside, will test 1.2782 (61.8%) A break and close below 1.2782 will open the road for 1.2680 Our traders are 100% net short with sell positions between 1.2680 and 1.3200 targeting profits below 1.2600 We are expecting more aggressive short positions on the way up and new long positions starting at 1.2782 (61.8%).
Pour un calendrier économique plus détaillé, veuillez consulter notre calendrier économique en direct sur :
https://tentrade.com/economic-calendar/
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