Forex Signals Brief for May 15: Markets Turn Back to the Data
Rowan Crosby • 2 min read
The US-China trade wars have been all that markets have been talking about this week. However, we might be in for a bit of a change of pace after we saw a slight rebound yesterday.
As the tensions, ease off for the time being and investors wait on the next development, many will be turning their attention to the host of important data set for release today.
The EUR/USD, has a couple of important data points including German and Eurozone GDP. Both numbers have not been impressive of recent times particularly on a yearly level, so watch out for any miss on either count to hit the Euro hard.
Out of the US, Retail Sales will be the big market mover today. And after gaining back some of the lost ground, US President Trump will be on the lookout for signs of an improving economy.
Meanwhile, the USD/CAD will also be on watch as we get CPI. Remember, we have seen a number of countries miss with their CPI prints lately and Canada wouldn’t want to follow suit.
Forex Signal Update
The FX Leaders Team finished the session with one win from one signal with a winner in Gold.
NZD/USD – Active Signal
The NZD/USD moved a bit during the US session but has since given up its gains. And it has done it on the back of more negative news from China, so overall our signal is now looking pretty good if it wasn’t already.
Gold – Active Signal
GOLD has really run-up recently on the back of the trade tensions, but it hasn’t been able to reclaim and hold 1300. With that in mind, we feel this is a good opportunity to get short here looking for a bit more reversion here.
BTC has driven hard through the $8,000 level before pulling back. But once again the buyers have stepped up and we are now back above that key area.
Given the momentum is so strong at the moment, it is very hard to be looking to short at the moment as you are just seeing so much strength.
And as I have been saying, price might be vertical, but that doesn’t mean it will slow down anytime soon. This could well go parabolical like the last time.