The dollar is more stable so far today, maintaining slight gains across the board. USD/JPY remains in the spotlight following Japan’s intervention yesterday, with the pair now seen at the 156.70 level. For now, it seems like those in charge are happy to keep things under control, but we’ll see how things continue to unfold as the week goes on. This, especially with the Fed and the US jobs report, is still on the agenda.
As we head towards the end of the month, stocks remain in good spirits. Stocks are building on last week’s rebound, hoping to restart a new uptrend through May. US futures are more tepid today, however, with S&P 500 futures down 0.1%.
When it comes to European trade, there will be a multitude of data releases to work with. It is worth noting that we will receive preliminary data on first quarter CPI and GDP in the Eurozone. Barring any major surprises, the data should have limited impact as traders are already well adjusted to the ECB’s next decision at the moment.
The euro zone economy is expected to grow marginally in the first quarter, while inflation is expected to moderate further in April.
05:30 GMT – Preliminary GDP figures for France for the first quarter
06:00 GMT – Germany Import Price Index for March
06:00 GMT – March retail sales in Germany
06:45 GMT – Preliminary April CPI figures in France
07:00 GMT – Spain’s preliminary GDP figures for the first quarter
07:55 GMT – Change in unemployment in Germany, rate in March
08:00 GMT – Preliminary GDP figures for Germany for the first quarter
08:00 GMT – Italy’s preliminary GDP figures for the first quarter
08:30 GMT – UK mortgage approvals in March, credit data
09:00 GMT – Preliminary April CPI figures in the Eurozone
09:00 GMT – Preliminary Eurozone GDP figures for the first quarter
That’s all for the upcoming session. I wish you good days ahead and good luck in your trading! Stay safe out there.
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