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May 15, 2017

Summarized - Weekly Analysis by FXPrimus! See what's happening this week in the market!

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Here is the Schedule of Economic Data release of the week.

The Biggest Market Movers This Week

An interesting week ahead with many fundamental indicators that may trigger some activity and the majority of indicators concentrated around Tuesday and Thursday.

Investors may try to take advantage of weak and strong currency pair moves on this light calendar based on inflation and economic data releases.

We note a few economic indicators for the pound this week that can create some opportunities for price action and play a pivotal role to GBPUSD market direction.

Monday – May 15th

Monday is expected to be noiseless as there are no major economic releases and the markets will try to anticipate last week’s activity.

The Chinese monthly industrial production report is to be released which may create some volatility and/ or opportunities to buy or sell, however it is unlikely to create volatility.

Tuesday – May 16th

Tuesday may be the most volatile day of the week starting with the RBA Monetary Policy Meeting followed by a release of UK’s CPI inflation data.

Both are very important considering firm Aussie and dovish GBP.

Round two will continue with USD Building Permits release and will be closed off with NZD GDT Price Index and PPI Input.

The kiwi surprised with the recent 1.3% drop due to inflation pressures.

Wednesday – May 17th

On Wednesday consumer inflation data are coming out for the British Pound, Manufacturing Sales out for Canada, and Crude inventories for US.

The pound has an interesting week which may be crucial for investors after the latest BoE shock.

CAD has been ranging despite the recent oil prices rise to 4-month highs on EIA data, which boosted the dollar up, and Gold down.

Thursday – May 18th

Thursday is loaded with economic data related activity for fundamentals starting early with Aussie Unemployment Rate, UK Retail Sales and closes off with the USD Unemployment Claims.

In the Asian Session the Australian Bureau of Statistics will release Unemployment Rate data determining the health of Australia’s labor force.

The UK expects the Retails Sales to be published to help gauge the economy’s pulse. Finally, the USD Unemployment Claims that may cause some significant moves in the market as it will give indications about the overall welfare payment made to unemployed people.

Friday – May 19th

Friday is expected to create less volatility for the majority of pairs apart the Canadian Dollar. Some inflation data are expected to be released due to m/m CPI data publication.

After the recent mixed moves and Moody’s downgrade of six banks investors may focus on the economic numbers.

Time in GMT  Event  Volatility  Actual  Consensus  Previous
 Monday
19:00 UK Prime Minister Theresa May speech High
 Tuesday
01:30 RBA Meeting’s Minutes High
08:30 Consumer Price Index (YoY) Apr High 2.6% 2.3%
09:00 Gross Domestic Products s.a (QoQ) (Q1) High 0.5% 0.5%
09:00 Gross Domestic Products s.a (YoY) (Q1) High 1.7% 1.7%
 Wednesday
07:00 Non-monetary policy’s ECB meeting High
 Thursday
13:30 Employment Change s.a. (Apr) High 5.0k 60.9k
13:30 Unemployment Rate s.a. (Apr) High 5.9% 5.9%

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