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TC Economic Insight - The Week Ahead (May 20 - 24)
Japan’s monthly inflation report will be released on Friday (May 24). If Japan’s inflation cools faster than in the U.S., the USD/JPY should have pressure to surpass the level of 160 once again.
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TC Economic Insight - The Week Ahead (May 20 - 24)
Using Multi-Stock Trading LLC's "Economic Insight" investors can check out up-coming major economic data.
We are looking into the trading week of May 20 - 24:
We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:
We can select which economies to focus on:
In late-April and early-May, Japanese authorities were suspected to have intervened in the forex market to buy up the yen after USD/JPY struck the level of 160, a 34-year high.
Later, U.S. inflation data came in milder than expected, boosting hopes for the Federal Reserve cutting interest rates, and pushing major U.S. stock indexes to record closing levels.
If Japan’s inflation cools faster than in the U.S., the USD/JPY should have pressure to surpass 160 once again.
Japan’s monthly inflation report will be released on Friday (May 24). According to Multi-Stock Trading LLC's "Economic Insight", the Core Inflation Rate should be easing further to 2.4% on year in April.
In the past 12 Japan Inflation Reports, USD/JPY fell in 67% of times (8 out of 12 events) within one hour from the report’s release, marking a trading range of 19.52 pips on average.
Key Economic Data Forecasts:
Monday (May 20)
DE Producer Prices (APR) -3.1% YoY
Tuesday (May 21)
AU Westpac Consumer Confidence (MAY) +0.9% MoM
AU Central Bank to release latest monetary-policy meeting minutes
CA Inflation Rate (APR) may ease to 2.8% YoY
Wednesday (May 22)
JP Machinery Orders (MAR) -3.2% MoM
JP Trade Surplus (APR) may fall to 250 billion yen
NZ Central Bank expected to keep key rate unchanged at 5.50%
GB Inflation Rate (APR) may slow to 2.7% YoY
US Existing Home Sales (APR) +0.5% MoM
US Federal Reserve to release latest monetary-policy meeting minutes
Thursday (May 23)
NZ Retail Sales (Q1) +1.5% YoY
DE HCOB Manufacturing PMI Flash (MAY) to rise to 44
US Initial Jobless Claims expected to rise to 225,000
US New Home Sales (APR) -1.4% MoM
Friday (May 24)
JP Inflation Rate (APR) to slow to 2.5% YoY
JP Core Inflation Rate (APR) to slow to 2.4% YoY
GB Retail Sales (APR) +0.3% MoM
US Durable Goods Orders (APR) +0.3% MoM
CA Retail Sales (MAR) +0.0% MoM
Happy Trading!
Source: Multi-Stock Trading LLC Economic Insight