Euro Dollar Japanese Yen

Weekly Forecast May 1-5

The US Dollar finished April lower against the euro and the sterling but higher against other majors currencies.

EUR/USD – Traded higher vs the dollar as of the results of a Macron victory in the first round of the France elections

GBP/USD – Sterling ended the week at seven-month highs against the dollar, with GBP/USD up 0.38% at 1.2951 in late trade.

USD/JPY – was up 0.23% at 111.52 after the Department of Labor reported that the employment cost index, the broadest measure of labor costs, increased 0.8% in the first quarter, the largest increase since the fourth quarter of 2007.

Economic events updates:

US ISM Manufacturing PMI: Monday, 14:00.
Australian rate decision: Tuesday, 4:30.
New Zealand employment data: Tuesday, 22:45.
US ADP Non-Farm Employment Change: Wednesday, 12:15.
US ISM Non-Manufacturing PMI: Wednesday, 14:00.
US Crude Oil Inventories: Wednesday, 14:30.
US Federal Funds Rate: Wednesday, 18:00. The rate decision is usually priced into the market, so it tends to be overshadowed by the FOMC Statement, which is focused on the future; High volatility is expected.
US Unemployment Claims: Thursday, 12:30.
Mario Draghi speaks: Thursday, 16:30. ECB President Mario Draghi will speak in Switzerland. Market volatility is expected.
Canadian employment data: Friday, 12:30.
US Non-Farm Payrolls and Unemployment rate: Friday, 12:30. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts;
Janet Yellen speaks: Friday 17:30. Federal Reserve Chair Janet Yellen will speak in Providence about Women’s Participation in the Economy. Market volatility could be expected.

*All times are GMT.


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