May 12th – 16th
EURUSD pair closed last week’s trading session lower on hawkish FOMC. The central bank kept interest rates unchanged and confirm another one time that they will be cautions going forward given uncertainty in markets due to tariffs. Diversity between hawkish FED’s officials and ECB’s dovish officials weighted negative on the pair.
As for this week, all eyes will be on the outcome of the meeting between US and China. Representatives from both countries are meeting to discuss the tariffs. Signals from Friday show that tariffs could go down to 60%. A lower tariff agreement will boost confidence, push equity markets higher and benefit US Dollar
On the economic calendar we have on Tuesday, the US CPI with expectations to remain unchanged at 2.4% On Wednesday, European Harmonized index of consumer prices to remain unchanged at 2.2% On Thursday, European Gross domestic to remain unchanged at 1.2% and US Producer price index higher at 0.3% On Friday, US Michigan consumer sentiment pointing higher at 53
Technically the picture is neutral after last week’s close below (23.6%) at 1.1249 In this week’s trading session if pair trades on the upside will re-test 1.1365 A break out and close above 1,1365 will open the road for 1.1477 If trades on the downside will test 1.1133 (38.2%) A break and close below 1.1133 will add downside pressure and test 1.1024 Our traders took profit all their short positions and now siting on the side waiting for better technical levels. We are expecting new long positions starting at 1.1150 and new short positions at 1.1365
GBPUSD pair closed last week’s trading session higher despite BOE’s 0.25% interest rate cut. As it was widely expected the central bank reduce interest rates by 0.25% while FED maintained interest rates unchanged. Initial reaction on pair was on the downside although, on Friday the outcome of the meeting between UK and US regarding tariffs benefit GBP and help the pair recover all lost ground and traded and close in positive territory.
As for this week, all eyes will be on the outcome of the meeting between US and China. Representatives from both countries are meeting to discuss the tariffs. Signals from Friday show that tariffs could go down to 60%. A lower tariff agreement will boost confidence, push equity markets higher and benefit US Dollar
On the economic calendar we have on Tuesday, the UK ILO unemployment rate pointing higher at 4.5% and US CPI with expectations to remain unchanged at 2.4% On Thursday, UK gross domestic product expected higher at 0.6% and US Producer price index higher at 0.3% On Friday, US Michigan consumer sentiment pointing higher at 53
Technically the pair’s overall picture is positive after last week’s close just on 0% at 1.3300 As for this week, if pair trades on the upside, will test 1.3410 A break and close above 1.3410 will open the road for 1.3500 Alternative, if trades on the downside, will test 1.3157 (23.6%) A break and close below 1.3157 will open the road for 1.3078 Our traders opened new short positions at 1.3305 targeting profits at 1.3175 we are expecting more aggressive short positions on the way up and new long positions starting at 1.3157 (23.6%).
Per un calendario economico più dettagliato, visitate il nostro calendario economico in tempo reale su:
https://tentrade.com/economic-calendar/
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