Weekly Outlook 15th to 19th may
Weekly Outlook 15th – 19th of May
Maximusfx.com Weekly Outlook – The US dollar declined against major currencies on last Friday as uninspiring US data on retail sales and inflation lead investors to temper hopes for rate hikes by the Federal Reserve.
Economic data release on Friday indicated that US retail sales progressed less than expected previous month, and mainly inflation curved in, increasing dilemma over if the Fed can hike rates twice in this year alone. Hence, retail sales went up to 0.4% in April.
Meanwhile, the labor department announcement on annual rate of inflation showed slow mode to 2.2% in April from 2.4% earlier month.
Annual main inflation that strips out energy and foods expenses declined to 1.9% the hit the bottom line since October 2015.
However, consumer prices progressed to 0.2% last month recovering from a 0.3% fall in March.
Financial Markets are these days sticking to a price in around a 70% chance of a rate hike in June.
It is also important to mention that euro rose to the day`s high against dollar with UER/USD enhancing 0.64% recovering from Thursday`s 2 week lows.
The US dollar declined relatively to session lows against yen to 0.43% thus US dollar went to a 2-month peak.
However, further economic circumstance of US obtained better consequences against the Canadian dollar slipped lower against its broadly on Friday
The financial markets this week is mostly to stay volatile due to upcoming US announcement on building permits, housing starts, industrial production and jobless claims for new illustrations on the strength of the economy.
Here is the weekly outlook in the financial market by Maximusfx.com categorized as a list that could cause major volatility across currencies
15th of May, Monday
New Zealand is to report on retail sales
China is to announce industrial production and fixed asset investment
Switzerland is to release figures on producer price inflation
The US is to announce on manufacturing operation
16th of May, Tuesday
The Reserve Bank of Australia is to release the minutes of its monetary policy meeting
The UK is to announce consumer price inflation
The Eurozone is to release reviewed data on initial quarter economic progress
17th of May, Wednesday
New Zealand is to report on numbers on producer price inflation input
Australia is to declare its wage price index
The UK is to report employment report
The Eurozone is to declare its consumer price inflation
Canada is going to illustrate its manufacturing sales results
18th of May, Thursday
Japan is to indicate its initial quarter economic progress
Australia will illustrate its employment report
The UK will demonstrate retail sales results
The US is to report on manufacturing operations and initial jobless claims
19th of May, Friday
Canada Retail Sales and Inflation data will be released.