Important upcoming events and publications for May 8 (GMT):
11:30 ECB President Mario Draghi speech. Risks for EUR: moderate. The speech will be for the youth audience, so it is unlikely that there will be announcements of major changes in monetary policy. Caution in economic assessments can cause pressure on the euro.
14:30 U.S. Weekly Crude Oil Inventories. Risks for Brent, WTI: Moderate. Recent weeks have seen an increase in inventories, which hinders the growth of oil prices. Further stock growth can put pressure on oil to revive fears of oversupply.
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
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