Weekly Forex News Events for EURUSD – 8th to 12th May 2017
EURUSD finished the week by producing a bullish weekly candle. The pair seems to be bullish as far as the charts are concerned. However, we might see a different picture on Monday when the market starts. The reason behind this is “French Election”. The election is going to take place on Sunday. Thus, the EURO pairs might start the week with huge gap and it could be either a gap up or a gap down depending on who wins the French election. Let us now see other scheduled events in the coming week that will create volatility on the EURUSD.
Wednesday-10th March 2017- 14.30 GMT
- Crude oil inventories
It normally produces spikes on the intra-day charts. Thus, the trader had better be careful with this news event.
Thursday-11th March 2017-12.30 GMT
- PPI m/m
- Unemployment Claims
Both of them are high impact news events. “Unemployment Claims” causes more volatility. This week’s forecast is 245 K. On 04.05.2017 the claim was 238K; on 27.04.2017 the claim was 257K; on 20.04.2017 244K; on 13.04.2017 the claim was 234K; on 06.04.2017 the claim was 34K. On three occasions out of five, the actual claims were lesser than the Forecast. Thus, “Unemployment Claims” suggests that the US job market has been going well.
Friday-12th March 2017- 12.30 GMT
- CPI m/m
- Core CPI m/m
- Core retail sales m/m
- Retail sales m/m
The data that is released by this news event could create volatility. Intra-day traders should be careful with their opened positions before this news event.
Friday-12th March 2017- 14.00 GMT
- Prelim Uom consumer sentiment
This is another high impact news event at the time of wrapping up the trading week.
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