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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
AUD/USD remains capped by 0.7100, focus on inflation data
AUD/USD shrugs off Monday’s pullback and regains composure on Tuesday, coming close to the 0.7070 region despite the Greenback trading with modest gains ahead of the opening bell in Asia. In the meantime, the Aussie Dollar should remain under scrutiny in light of the publication of critical inflation data in Oz early on Wednesday.
EUR/USD risks a deeper drop below 1.1750
EUR/USD keeps its vacillating mood in place as the the NA session drwas to a close on Tuesday, hovering below the 1.1800 hurdle amid acceptable gains in the US Dollar. In the meantime, market participants and the FX galaxy are expected to closely follow President Trump’s SOTU speech around 2AM GMT.
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.
Coinbase launches stocks and ETF trading amid ongoing plans for all-in-one platform
Coinbase has launched stocks and ETF trading for US customers on its platform, according to an X post on Tuesday. The service offers commission-free trading available 24 hours a day, five days a week, for eligible securities. Traders deposit US dollars or USDC to fund positions and access fractional shares as low as $1.
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 Wednesday, February 25:
The US Dollar (USD) is on a green note on Tuesday after recovering from Monday’s decline as investors digested the United States (US) Supreme Court ruling against President Donald Trump's tariffs and the new round of levies he announced last weekend.