The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Friday News: PCI Influence Currencies
Information is not investment advice
Yesterday the Bureau of Labor Statistics’ CPI release was the same as expected, and now the inflation in the US is 7.9% year-over-year, underscoring the severe inflationary pressures hitting the US economy, with everything from groceries to rent and airline tickets becoming more expensive for everyday consumers.
Due to that, USD rose against most major currencies. For instance, GBPUSD lost almost 1000 points. Now the resistance is 1.31800 and the support is 1.30650.
JPY fell to its weakest level against the dollar since January 2017 at 116.72 per dollar.
EURUSD failed to get above 1.1100 yesterday and settled around 1.0994 as the ECB's hawkish tone failed to boost the single currency's momentum.
The Hong Kong tech indicator fell more than 6% after the US identified five Chinese firms that could be delisted. US-traded Chinese stocks experienced their worst day since 2008 on Thursday amid renewed concerns from regulators.
Meanwhile, more firms are turning their backs on Russia in response to the invasion of Ukraine. JPMorgan Chase & Co. joined Goldman Sachs Group Inc. to leave Russia.
Today is CAD Unemployment rate release, which can lead to USDCAD’s interesting movements!
Have a good trading day!
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on April 29, 15:30 GMT+3.
United States Bureau of Economic Analysis will release Gross Domestic Product (Advance GDP) on April 28, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.
The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.