Market Brief May 21st: US-China trade war “on hold”
Ether –the virtual currency is holding up quite well and refuses to fall below $650. Daily trading volumes is approaching to the levels we saw in January and February this year. It should be stressed that it was during that time that both volume and price of the asset reached all time-highs. We will see if Ether will surpass Bitcoin this year or run neck in neck in terms of performance.
Monday, May 21, 2018
Canada, Switzerland, Germany and Hong Kong will be off for the day due to celebration of holidays. All of the above–mentioned exchanges will be back on Tuesday.
Wednesday, May 23, 2018
EUR, 07:00 a.m. GMT +1, German GDP (QoQ) (Q1) – Gross Domestic Product is a major event for the euro and its pricing. The report shows change in the output of goods and services for the first quarter of 2018 could set the course of direction for the market. Market analyst projections predict a slow-down at 0.3% for the first quarter compared to 0.6% for the last quarter of 2017. Should the reading surprise with better than expected results, this should have a positive impact on the euro. A much worse result, however, could lead to price getting even lower.
USD, 19:00 p.m. GMT +1, FOMC Meeting Minutes – minutes from the Fed are highly anticipated by all market participants. Data represents a detailed record of the meeting of the committee. Based on minutes traders can have access to stance on monetary policy of the entire U.S. economy. It is important to remember that decisions are based on solid economic data and traders as well as financial institutions can deduct clues that influence interest rates.
Thursday, May 24, 2018
GBP, 09:30 a.m. GMT + 1, Retail Sales (MoM) (Apr) – the news event comes with some optimistic news for the British economy. By looking at analyst projections, retail sales are expected to have risen in April at 0.7% versus the reading from the previous period which came out at -1.2%. As you know, retail sales is a foremost indicator of consumer spending and it has a direct impact on the overall state of the economy. This being said, a higher actual performance should be read as positive for the cable while a markedly worse number would drive prices down.
Friday, May 25, 2018
EUR ,German Ifo Business Climate index (May) – a key leading indicator of the economy looking six months ahead, the composite index is based on a survey of builders, manufacturers, wholesalers, and retailers. Data is perceived very seriously by the market and could have a medium-term impact on the price of the euro as well (six months). Market expectations forecast lower performance in May at 101.9 versus 102.1 for the previous month. An actual higher result, should be read as positive for the euro while a much weaker reading could smash prices.
Wishing you Happy and Successful Trading!
Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.” Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.