This week the focus of attention will be on the US retail sales, the Turkish elections that are coming up with a second round on May 28 and the Japanese GDP and CPI data. The attention will therefore be switched on how EURUSD, EURTRY and USDJPY may react.
US retail sales → EURUSD
The highlight will be the US retail salesfor April. Expectations are for both the headline and core month-over-month rates to have rebounded to 0.7% and 0.4% respectively from -0.6% and -0.4%.
Turkish presidential elections → EURTRY
No candidate in Turkey’s first round of presidential elections received more than 50% of the vote, hence a second round will take place on May 28. Investors will the results of the crucial election as Recep Tayyip Erdogan bids to extend his nearly two-decade reign as Turkey’s president versus the opposition candidate Kemal Kilicdaroglu.
Japan GDP → USDJPY
On Wednesday, Japan will release its flash GDP growth numbers for the first quarter. On Friday, Japan will release its latest inflation numbers. In 2023, the Japanese economy should have grown again, even if only slightly.
This week the focus of attention will be on the US retail sales, the Turkish elections that are coming up with a second round on May 28 and the Japanese GDP and CPI data. The attention will therefore be switched on how EURUSD, EURTRY and USDJPY may react.
US retail sales → EURUSD
The highlight will be the US retail sales for April. Expectations are for both the headline and core month-over-month rates to have rebounded to 0.7% and 0.4% respectively from -0.6% and -0.4%.
Turkish presidential elections → EURTRY
No candidate in Turkey’s first round of presidential elections received more than 50% of the vote, hence a second round will take place on May 28. Investors will the results of the crucial election as Recep Tayyip Erdogan bids to extend his nearly two-decade reign as Turkey’s president versus the opposition candidate Kemal Kilicdaroglu.
Japan GDP → USDJPY
On Wednesday, Japan will release its flash GDP growth numbers for the first quarter. On Friday, Japan will release its latest inflation numbers. In 2023, the Japanese economy should have grown again, even if only slightly.
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