Trading news

Trading ideas for May 10-14

The week will be full of US data: inflation, jobless claims, retail sales, and some other reports. They will have a huge impact on the currency pairs with the US dollar and gold. Inflation is the main topic of traders’ talks these days as it is getting closer to the levels unseen in 14 years, but the Fed tries to assure investors that inflation will stay at these heights just for a short period. However, market participants do not fully trust these words and watch closely for Fed’s actions, when it will start tapering: cut asset purchases or hint about raising interest rates. When it happens, it will send the US dollar soaring.

EUR/USD

The economic situation is getting better in the Euro Area. Increasing vaccinations and plans to ease travel restrictions can push EUR/USD higher to April highs of 1.2150. Besides, any progress on the EU Recovery Fund should positively impact the euro as well this quarter.

USD/CAD

The Bank of Canada was the first bank to tighten the policy after the pandemic crisis. The Canadian dollar gained on that hawkish move. Thus, USD/CAD is going down and down. Besides, the CAD was supported by rising oil prices as Canada is one of the world’s largest exporters. Sooner or later the pair may hit the psychological level of 1.2000.

Disney

The earnings season is coming to an end! Walt Disney is one of the latest to deliver its earnings results. They will be out on May 13 at 23:30 FBS Trader time (GMT+3). The forecast is $0.27 per share. If the actual data beats the market estimate, Disney will surge. Otherwise – drop. Besides, Disney is trading at the local lows at the moment of writing, thus if earnings are strong, it will push the stock up with a greater force.

XBR/USD (Oil)

XBR/USD is the UK Brent crude oil. It has been moving gradually up these days, driven by the easing of travel restrictions and the global economic recovery. Some analysts are even talking about oil hitting $80.00 a barrel, but it should break the $70.00 resistance at first and rising cases in India may cap gains.

TRADE NOW

FBS Review

Thursday, 06 May, 2021 / 4:35

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://fbs.com/analytics/news/trading-ideas-for-may-10-14-12672

Trading news

 

US stocks closed higher on Thursday, with the S&P 500 surging to a record high

Investors shrugged off CPI (consumer price inflation) data that showed a [...]

Posted on Sunday, 13 Jun, 2021 / 10:21 under

What Could Be Market Moving From The G7 Meeting?

When the leaders of the seven countries that represent 46% of the global GDP [...]

Posted on Friday, 11 Jun, 2021 / 2:42 under

Stocks at record, dollar unfazed after US CPI hits 5%

  US inflation surges again, but markets more convinced than ever [...]

Posted on Friday, 11 Jun, 2021 / 9:58 under