Data heavy session ahead
|First up today we have German Gross Domestic Product w.d.a. (YoY) (1Q P) at 6 AM GMT expected to remain unchanged at 1.7% followed by Euro-Zone Industrial Production at 9 AM which may cause the EUR crosses to breakout of current support levels. During the New York session the US Consumer Price Index (YoY) (APR) will be out at 12:30 PM GMT, serving as the headline figure for inflation, and is the most obvious way to quantify changes in purchasing power.Therefore, market participants will be all eyes to see if they should dump the USD based on the outcome. This combined with the Advance Retail Sales (APR) released at the very same time, could create a rollercoaster ride for USD crosses. Finally we have the U. of Michigan Confidence (MAY P) at 2 PM to seal the deal for USD at the end of the trading week. Thanks for watching, have a great weekend and come back for more from Capital Index and Invest Diva next week.
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