After a tough trading week, the forthcoming week is going to be less rich in significant new events. The end of the trading week is unlikely to be volatile as the entire Christian World will be getting ready to celebrate Easter.
April 19th
16:30 USD - Building Permits
April 20th
12:30 GBP - MPC Meeting Minutes
18:00 USD - Existing Home Sales
April 21st
12:30 GBP - Public Sector Net Borrowing
12:30 GBP - Retail Sales
16:30 USD - Unemployment Claims
18:00 USD - Philly Fed Manufacturing Index
Last week only 2 major fundamental indexes caused strong volatility spikes (including CPI, which grew in value and caused a 44-point momentum (1.6316 - 1.6272), declined further down to 1.6226 (the low of the week) and then made a 102-point upward momentum).
The US inflation data indicated a movement towards an interest rate increase: the PPI value turned out to be less than expected (0.7% vs 1.1%), which allowed GBPUSD to reach the high of the weak after passing 68pts in 2 hours. Last week’s Unemployment Claims data also showed a negative result ( an increase up to 412K instead of 379K). However, CPI saw a softer decline (0.1%), which gives the Fed Res some wiggle room even though the inflation rate is still threatening. After these news releases the currency pair passed 52pts down, having broken the lower border of an H1 range and settled below the 1.6327 option level.
This week’s focus is on the UK: MPC Meeting Minutes, Retail Sales and PSNB.
As for the US, the data on the housing sector (Housing Stats) may become the market driver. This week is expected to show that the housing sector has partially recovered. Among other significant new releases are Unemployment Claims and Philadelphia Fed Manufacturing. The forecasts imply that the real sector of the US economy shouldn’t affect the US dollar.
After a tough trading week, the forthcoming week is going to be less rich in significant new events. The end of the trading week is unlikely to be volatile as the entire Christian World will be getting ready to celebrate Easter.
April 19th
16:30 USD - Building Permits
April 20th
12:30 GBP - MPC Meeting Minutes
18:00 USD - Existing Home Sales
April 21st
12:30 GBP - Public Sector Net Borrowing
12:30 GBP - Retail Sales
16:30 USD - Unemployment Claims
18:00 USD - Philly Fed Manufacturing Index
Last week only 2 major fundamental indexes caused strong volatility spikes (including CPI, which grew in value and caused a 44-point momentum (1.6316 - 1.6272), declined further down to 1.6226 (the low of the week) and then made a 102-point upward momentum).
The US inflation data indicated a movement towards an interest rate increase: the PPI value turned out to be less than expected (0.7% vs 1.1%), which allowed GBPUSD to reach the high of the weak after passing 68pts in 2 hours. Last week’s Unemployment Claims data also showed a negative result ( an increase up to 412K instead of 379K). However, CPI saw a softer decline (0.1%), which gives the Fed Res some wiggle room even though the inflation rate is still threatening. After these news releases the currency pair passed 52pts down, having broken the lower border of an H1 range and settled below the 1.6327 option level.
This week’s focus is on the UK: MPC Meeting Minutes, Retail Sales and PSNB.
As for the US, the data on the housing sector (Housing Stats) may become the market driver. This week is expected to show that the housing sector has partially recovered. Among other significant new releases are Unemployment Claims and Philadelphia Fed Manufacturing. The forecasts imply that the real sector of the US economy shouldn’t affect the US dollar.
Still 1.6500 will probably remain a psychological barrier before the key area of 1.6825/50. The closest option levels of support are 1.6232, 1.6074, 1.5999.
Provided by the Department of Options,
