
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Don’t waste your time – keep track of how NFP affects the US dollar!
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EUR/USD is moving inside the descending channel. It has taken a breath at the start of the day after falling for four days in a row. It may retrace to the psychological mark of 1.1400, but then the downtrend should continue. The nearest support level is at 1.1350. If it breaks it, the pair may fall to the 1.1300 support – the level unseen since mid-July 2020.
Gold keeps rising. It has approached the 50% Fibonacci level of $1875 which will be hard to cross. The long tails of the last candles signal that the metal is exposed to fall to the $1850 support level. On the flip side, if the uptrend continues and gold surges above the 50% Fibonacci level of $1875, the way to the psychological mark of $1900 will be open.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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