Important upcoming events and publications for May 16 (GMT):
09:00 Eurozone Trade balance. Risks for EUR: low. In March, the surplus is expected to decrease from 19.5B to B19.0B. Despite this, the surplus as a whole has been increasing since October last year, supported by a weak Euro.
12:30 U.S. Building Permits. Risks for USD: Moderate. In April, it is expected growth from 1269K to 1295K. The increase may be the first in three months and is able to support the purchase of the dollar.
15:15 Bank of Canada Governor speaks. Risks for CAD: High. The speech at the press conference on financial system review can shed light on monetary policy. Hints for a prolonged pause in the rate hike may weaken the Canadian dollar.
- 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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