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US Open Preview – Euro under pressure as economic confidence fades
May 7, 2018 12:26 pmVideo
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Here are the latest developments in global markets:
Day Ahead: Quiet day in terms of data; numerous speeches on the agenda
Monday is going to be quiet in terms of economic releases, while market liquidity is expected to be relatively narrower as UK markets are closed for a Bank Holiday today.
The US, the world’s largest economy, will see the release of March consumer credit data at 1900 GMT. Credit is predicted to tick higher by $16.0 billion from $10.6 billion the preceding month.
In terms of public speeches, Atlanta’s Fed President, Raphael Bostic (voting FOMC member in 2018), will be speaking at 1225 GMT, while at 1800 GMT, Richmond’s Fed President, Tom Barkin (voter) and Philadelphia’s Fed chief Patrick Harker (non-voter) will be making comments as well. A bit later, at 1930 GMT, the focus will turn to speeches made by the Dallas Fed President, Robert Kaplan, and the Chicago Fed President Charles Evans (both non-voters).
Early tomorrow, Australia will see the release of retail sales numbers at 0030 GMT; aussie pairs would be eyed. Month-on-month, sales are expected to expand by 0.3% in March versus 0.6% the prior month.
In equities, Walt Disney and Nvidia are two of the companies releasing results this week, on Tuesday and Thursday respectively. Equity market sentiment could be also driven by developments in global trade, as NAFTA talks are resuming today in Washington and US-China discussions seem to have provided no tangible outcome last week.
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