GBP/USD dropped sharply late in the week and the pair ended the week just above the 1.38 line.
The upcoming week has four releases, including the BoE rate decision.
Here is an outlook for the highlights and an updated technical analysis for GBP/USD.
The Confederation of British Industry Realized Sales report finally punched into positive territory after six straight declines. Sales volume rose to +20 in April, up from -45 points. This easily beat the estimate of +9.
In the US, consumer confidence soared, as the Consumer Board Consumer Confidence Index climbed to 121.7, up from 113.1 beforehand. The US dollar dipped after the FOMC meeting, as the Fed said it was premature to discuss tapering.
USD/CAD dropped to its lowest level since February 2018 last week, as the pair fell 1.57%. For the Canadian dollar, it was its strongest weekly gain this year.
There are four
Here is an outlook for the highlights and an updated technical analysis for USD/CAD.
In Canada, retail sales sparkled in March, as both the headline and core retail sales rose 4.8%, after declines a month earlier. Canada’s GDP posted a gain of 0.4% in February, down from 0.7% a month earlier. On the inflation front, the Raw Materials Price Index gained 2.3% in March, down from 6.6%.
In the US, consumer confidence soared, as the Consumer Board Consumer Confidence Index climbed to 121.7, up from 113.1 beforehand. The US dollar dipped after the FOMC meeting, as the Fed said it was premature to discuss tapering.
EUR/USD sustained sharp losses on Friday and recorded its first losing week in a month.
There are seven releases in the upcoming week.
H
ere is an outlook at the highlights and an updated technical analysis for EUR/USD.
German ifo Business Climate improved slightly to 96.8, up from 96.6. However, this missed the estimate of 97.8. Consumer confidence remains weak as the GfK Consumer Confidence index weakened to -8.8, down from -6.2.
In April, German Inflation rose above the 2% level for the first time in two years. In the eurozone, CPI is expected to rise to 1.6% in April, up from 1.3%. German GDP fell by 1.7% in Q1 from the previous quarter, as Covid-19 caused a downturn in the economy.
USD/CAD dropped to its lowest level since February 2018 last week, as the pair fell 1.57%. For the Canadian dollar, it was its strongest weekly gain this year.
There are four
Here is an outlook for the highlights and an updated technical analysis for USD/CAD.
In Canada, retail sales sparkled in March, as both the headline and core retail sales rose 4.8%, after declines a month earlier. Canada’s GDP posted a gain of 0.4% in February, down from 0.7% a month earlier. On the inflation front, the Raw Materials Price Index gained 2.3% in March, down from 6.6%.
In the US, consumer confidence soared, as the Consumer Board Consumer Confidence Index climbed to 121.7, up from 113.1 beforehand. The US dollar dipped after the FOMC meeting, as the Fed said it was premature to discuss tapering.
GBP/USD dropped sharply late in the week and the pair ended the week just above the 1.38 line.
The upcoming week has four releases, including the BoE rate decision.
Here is an outlook for the highlights and an updated technical analysis for GBP/USD.
The Confederation of British Industry Realized Sales report finally punched into positive territory after six straight declines. Sales volume rose to +20 in April, up from -45 points. This easily beat the estimate of +9.
In the US, consumer confidence soared, as the Consumer Board Consumer Confidence Index climbed to 121.7, up from 113.1 beforehand. The US dollar dipped after the FOMC meeting, as the Fed said it was premature to discuss tapering.