Sentiment in France & Germany is quite positive regarding Macron as French President. However, the Euro has yet to react and the USD remained buoyant based on hawkish fedspeak, despite disappointing data. US Politics will be in focus this week, as Trump’s decision to fire FBI Chief Comey gives opposition excuses to delay reforms.
USD: fairly quiet week for US data. NY Fed Manuf. and NAHB (Mon), Housing Market Index; Building Permits, Housing Starts, and Ind. Prod. (Tue), Philly Fed Index (Thur).
EUR: a few key releases this week with EZ Q1 Flash GDP and Ger ZEW (Tue); EU CPI (Wed); EU Current Account (Fri).
GBP: watch out for CPI (Tue), key employment data (Wed), Retail Sales (Thur).
CAD: Manuf. Sales & Crude Oil Inventories (Wed), CPI & Retail Sales (Fri).
Asia: China Ind. Prod, Fixed Asset Investment, Retail Sales (all Mon), House Price data (Thur). Australia will see Home Loans (Mon), RBA’s minutes (Tue), Wage Prices (Wed), Unemployment (Thur).
Finally, NZD starts off the week with Retail Sales, then has GDT auction (Tue) and PPI ( Wed).
Going into the week I remain bullish on the Nasdaq and bearish on Cad & Nzd. I have a feeling dynamics will change during the week, since the established trends are pausing. Patience will be key.
Good Luck!
by | May 14, 2017 – 5.52 pm
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