Today the focus is on an open England, Japanese recovery, and the rebounding US.
The EU’s CPI (YoY) will be released. Forecast: 1.3%. If results are lower than expected, the EUR could receive a negative push.
Assets to trade: EUR/USD, EUR/SGD, EUR/NZD
The US Building Permit for March will be reported. Forecast: 1.750M. If the data is lower than forecast, the USD could receive some negative pressure.
Assets to trade: USD/NOK, USD/SGD, USD/CAD
U.S. retail sales rebounded more than expected in March as Americans received additional pandemic relief checks from the government and increased COVID-19 vaccinations allowed broader economic re-engagement. Affects USD
English diners rushed back to restaurants this week and online job adverts have returned to pre-pandemic levels as Britain’s economy starts to reopen following the coronavirus pandemic. Affects GBP
The German economy probably shrank by 1.8% in the first quarter because of COVID-19 restrictions. Affects EUR
Japan’s economy is picking up steam but any recovery is likely to be modest due to lingering caution over the coronavirus pandemic. Affects JPY
Commonwealth Bank of Australia (CBA), the country’s largest lender, said growth in its home loan book this year should boost the company’s mortgage profit in the order of 3%. Affects AUD
The Australian economy has wavered less in the face of the COVID-19 pandemic, sustaining little damage to their economy over the past year. While the US has come roaring back with great economic reports and a rising growth outlook. The USD could continue to push higher.
The pair shows little risk of ending its climb before reaching its next resistance level around 0.7801.
The entertainment industry leader is trading in a pennant channel, it will likely break out upward.
The sportswear giant has been slowly flagging down and has set a new resistance level around 137.