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You know what comes after NFP week?
A fresh week to trade the dollar, yo!
Here are potential catalysts you need to watch if you’re trading the Greenback in the next few days.
Consumer price index (May 12, 12:30 pm GMT)
- Headline CPI dipped by 0.4% in March, the largest since January 2015
- Core CPI dipped by 0.1%, the first decline since January 2010
- Annualized CPI saw a 1.5% gain, smaller than 2.3% increase in February
- Analysts expect headline CPI to dip by 0.7%, core CPI to fall by 0.2%, and annualized CPI to slow down to 0.4%
Producer price index (May 13, 12:30 pm GMT)
- Headline PPI fell by 0.2% in March
- Core PPI only gained 0.2%, the largest decrease since October 2015
- Headline PPI could fall by 0.4% in April
- Core PPI is seen at -0.2% for the month
Retail sales (May 15, 12:30 pm GMT)
- Retail trading fell by 8.7% in March, while core retail sales dipped by 4.5% as businesses started shutting down
- Analysts see headline retail sales at -10.0% in April
- Core retail sales could weaken by another 5.8%
FOMC member speeches
- Governor Powell (May 13, 1:00 pm GMT) will talk about the economy in a webinar
- Philadelphia’s Harker (May 12, 2:00 pm GMT) will talk COVID-19 impact in North Carolina
- Randal Quarles (May 12, 2:00 pm GMT) will testify before the Senate Banking Committee
- Cleveland’s Mester (May 12, 9:00 pm GMT) will talk policy and outlook via satellite
- Minneapolis’ Kashkari (May 14, 3:00 pm GMT) will talk economic responses to COVID-19 in a webinar
Technical snapshot
- Stochastic is signalling that USD is “overbought” against AUD
- The dollar is on bullish trends against the euro and pound on the daily time frame
- Look out for retracement or reversal situations on USD/JPY, USD/CHF, AUD/USD, NZD/USD, and USD/CAD
- The dollar was most volatile against AUD, NZD, GBP, and CAD in the last seven days
Missed last week’s price action? Read USD’s price recap for May 4 – 8!