Draghi's speech could create trading opportunity in the EUR crosses

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Summary

We had high risk economic data released from China during the Asian session, including their Consumer Price Index which impacted the commodity currencies. Moving on, ECB's Draghi is scheduled to Speak about the impact of monetary policy in Dutch Parliament. His tone and remarks could create trading opportunity in the EUR crosses. U.S. Crude Oil Inventories (MAY 05) will be released at 2:30 PM GMT projecting volatility on CAD crosses, and later during the next day’s Asian session Reserve Bank of New Zealand Rate Decision (MAY 11) is due at 9 PM GMT. The RBNZ is expected to keep rates unchanged at 1.75%. NZD traders could seek profit taking on the news. Thanks for watching, invest responsibly and I wish you the best of luck making pips by trading forex.

 


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