The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
Pay attention to the important releases for the USD
Information is not investment advice
The United States will release the level of retail sales and core retail sales on May 15, at 15:30 MT time. The indicators represent the change in the total value of sales at the retail level. According to the forecasts, the headline retail sales will advance by 0.2%. As for its core level, which excludes the sales of automobiles, it is expected to increase by 0.7%. Last time the indicators came out better than the forecasts. It pushed the USD up significantly. Will the situation repeat itself this time?
• If the actual levels of indicators are higher than the forecasts, the USD will go up;
• If the actual levels of indicators are lower than the forecasts, the USD will go down.
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.
The overall market sentiment is mixed as investors await the Federal Reserve’s statement today at the evening.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
The US NFP will be published on August 7 at 15:30 MT time.
The RBA will make a rate statement on August 4 at 7:30 MT time.