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Banc De Binary’s Ahead Of The Week: 12th – 16th May 2014

Starting with Monday 12th May. The data calendar is relatively light today. The Federal Budget Balance is expected from the U.S. together with NAB Business Confidence data from Australia which are lower impact events. Therefore, we move onto Tuesday.

On Tuesday at 12.30 we see the release of Core Retail Sales data from the U.S. Last month, core retail sales rose by 0.7%, helping the economy recover from a weather-depressed start to the year. Evidence of increased spending by consumers and businesses, backed by positive manufacturing and employment data, is helping to fuel economic growth, so a further increase of 0.5% is expected this month. Banc De Binary analysts will, therefore, be looking at PUT opportunities on the EUR/USD.

On Wednesday, we stay in the U.S. for the latest Producer Price Index data. Producer prices advanced 0.5% in March seeing the biggest gain in four years. April prices are predicted to rise 0.2%. If figures once again come in greater than forecast, this will apply upward pressure on the dollar, prompting Banc De Binary analysts to look at CALL opportunities on the Eurodollar.

On Thursday, it’s U.S. Unemployment Claims. Although the U.S. economy is experiencing accelerating growth, last week’s figures dropped below forecast to 319,000. Although some slack remains in the labour market, it continues to gain traction so we expect a further decrease in claims to be reflected in this week’s figures, presenting traders with opportunities on the Eurodollar pair.

We end the week on Friday with the U.S. Prelim Consumer Sentiment release. U.S. consumer sentiment rose to 82.6 in April, its highest in nine months as current conditions and expectations continue to strengthen. With more favourable economic news reaching consumers recently, Banc De Binary analysts are predicting a further increase in this month’s Consumer Sentiment figures which could present PUT opportunites on the EUR/USD currency pair.

That concludes our round-up of the key trading events for the 12th – 16th May 2014.

Monday, 12 May, 2014 / 7:20

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