Important upcoming events and publications for May 17 (GMT):
09:00 Eurozone consumer price Index. Risks for EUR: Low. It is expected price growth rate is at 1.7% y/y. Since the beginning of the year, inflation in the region has been accelerating. Higher values are favourable for the Euro.
14:00 U.S. Consumer Sentiment Index. Risks for USD: Moderate. The preliminary May estimate is expected to show slight growth from 97.2 to 97.8. The indicator is gradually recovering from the drop in January. Growth above expectations could support the dollar.
17:00 U.S. Baker Hughes U.S. Rig Count. Risks for #Brent, WTI: Moderate. The indicator has been decreasing since the beginning of the year, reflecting the decline in drilling activity, despite the relatively high Crude prices. A sharp decline may support the growth of oil prices.
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