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.
The dollar experienced a sell-off but rallied back up by the end of the week.…
The new week will be packed with economic data and decisions from key central banks.…
Despite economic factors working against the dollar, its oversold condition helped it this week or…
USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…
Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…
Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…
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