This week was fairly quiet. The U.S. economic market data was mixed again. The initial jobless claims in the U.S. surprisingly increased last week. Are that signs of the slowdown in the U.S. labour market? The pace of the job creation also slowed in April.
Market participants are awaiting the U.S. labour market for May. The weaker-than-expected U.S. labour market could mean that the Fed would not raise its interest rate in June. The referendum on Britain's membership in the European Union (EU) on June 23 is also likely to weigh on the Fed's interest rate decision as Britain's exit from the EU would have a negative impact on the U.S. economy.
Oil prices rose this week, mainly supported by the wildfire in Canada. It is likely that we will see some correction in the coming days and weeks as the global oil oversupply still remained.
It is likely that the currency pair EURUSD will rise toward the high of May 11 at $1.1445, if there are negative news from the U.S. and there are no negative economic data from the Eurozone.
If the U.S. economic data is better than expected and in case of the negative economic data from the Eurozone, the currency pair EURUSD may test the low of April 22 at $1.1217.
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.