Mario Blascak, PhD
Independent Analyst
What you need to know before markets open
- China’s trade balance reached a slightly lower surplus than expected with imports rising massively.
- G7 meeting starts in Canada with the US-led trade wars being the hottest topic.
- German industrial production disappointed in April falling -1.0% over the month.
- The Canadian employment report headline the US session.
Friday's upcoming market moving events
- G7 meeting starts in La Malbaie in Canada with the latest round of trade tariffs threat from the US being the hottest topic.
- Canada’s employment is expected to rise 17.5 K in May with the unemployment rate unchanged at 5.8%. For further details read Yohay’s Preview here.
Major market themes
- EUR is trading down 0.25% at 1.1765 as repositioning ahead of the weekend G7 summit is taking place.
- Sterling trades 0.1% hovering near 1.3400 level.
- Watch CAD factoring in the Canadian employment report.
Earlier in Asia/Europe
- China’s trade balance reached a surplus of $24.92 billion with exports rising 12.6% y/y while imports rose 26% y/y.
- German industrial production unexpectedly fell -1.0% m/m while decelerating to 2.0% y/y in April.
- German trade balance reached a surplus of €20.4 billion in April.
- The Bank of England inflation expectation survey saw median inflation expected in the one-year horizon at 2.9% in May, unchanged from April.
- ECB executive board member Yves Mersch was participating at International Risk Management Conference in Paris but refrained to talk about the monetary policy issues as the meeting falls to the quiet period before next week’s ECB meeting. For details read my ECB Preview here.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0600 as focus shifts to Powell speech
EUR/USD fluctuates in a narrow range above 1.0600 on Tuesday as the better-than-expected Economic Sentiment data from Germany helps the Euro hold its ground. Fed Chairman Powell will speak on the policy outlook later in the day.
GBP/USD stays near 1.2450 after UK employment data
GBP/USD gains traction and trades near 1.2450 after falling toward 1.2400 earlier in the day. The data from the UK showed that the ILO Unemployment Rate in February rose to 4.2% from 4%, limiting Pound Sterling's upside.
Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
Canada CPI Preview: Inflation expected to accelerate in March, snapping two-month downtrend
The Canadian Consumer Price Index is seen gathering some upside traction in March. The BoC deems risks to the inflation outlook to be balanced. The Canadian Dollar navigates five-month lows against the US Dollar.