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Summary
It’s Friday May 19th, and here is this week’s edition of forex happy hour and market report for the final trading day of the week. The biggest event today will come out of our Canadian buddies, as they release their CPI and retail sales report at 12:30 pm GMT). For the retail trade situation in Canada during the March period, market analysts expect a recovery that will be enough to push both the headline and core reading back into positive territory, versus the respective numbers previously at -0.6% and -0.1%. Canada’s March CPI report was a disappointment because Canada’s CPI only increased by 0.2% month-on-month, missing expectations for a 0.4% rise. Year-on-year, CPI only increased by 1.6%, a slower rate of increase compared to February’s +2.0%. For the upcoming CPI report, the headline reading for April is expected to improve on both a month-on-month and year-on-basis The combination of the reports could create a great deal of volatility in the CAD crosses, so buckle up and create your strategy beforehand so that you’re not caught off guard! Thanks for watching, have a great weekend and come back for more from Capital Index and Invest Diva next week.
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Editors’ Picks
EUR/USD looks apathetic around 1.1770
EUR/USD comes under renewed pressure on Tuesday, deflating below the 1.1800 support and reversing two consecutive days of gains. The pair’s decline follows the persistent move higher in the US Dollar, as trade uncertainty dominates the sentiment ahead of President Trump’s SOTU speech.
USD/JPY climbs to 156.00 area as markets doubt BoJ rate hikes
USD/JPY catches a fresh bid wave and challenges the 156.00 region on Tuesday. The pair rallies as the Japanese Yen (JPY) falls hard on reports that Japan's PM Takaichi voiced concerns to BoJ Governor Ueda on interest rate hikes.
Gold appears offered around $5,150
Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.
Ripple’s DeFi shift in focus: Navigating XRPL EVM sidechain growth, XRPFi migration and liquidity
Ripple (XRP) has continued to trade under pressure, extending its decline by approximately 63% from the record high of $3.66 in July. The remittance token is trading above support at $1.35, while its upside appears limited by key supply zones, starting with $1.40, at the time of writing on Tuesday.
The Citrini report: How a debatable AI narrative can shake Wall Street Premium
That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.
Here is what you need to know on Tuesday, February 24:
The USD Index continues to edge higher as markets keep a close eye on tariff-related headlines. In the second half of the day, ADP Employment Change 4-week Average and the Conference Board's Consumer Confidence Index data for February will be featured in the US economic calendar.