The major currency pair is neutral at the beginning of another May week; it is barely moving in anticipation of new catalysts.
EURUSD had a quite stressful week earlier, so it’s not very active at the beginning of a new one. The current quote for the instrument is 1.1160.
This week, Monday is not too replete with numbers.
In fact, the market will be on its own. In the morning, Germany reported on the PPI in for April, which added 0.5% m/m after losing 0.1% m/m in March and against the expected reading of +0.4% m/m. what does this indicator imply? It measures the average change in price of goods and services in three major categories, raw materials, intermediate goods (parts, semi-processed materials), and final goods, sold by manufacturers and producers in the wholesale market during a given period. The most important information is the final goods prices, because they include market sentiment. The indicator has no influence on EURUSD behavior, but may provide insight to inflation and deflation aspects.
A bit later, the Euro Area will publish the Current Account and then, in the evening, the FOMC member Richard Clarida is scheduled to speak.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.