The commodity currencies skid led to the collapse of commodities on Thursday’s session recorded the second consecutive day fall after April 05. Today’s economic calendar is empty.
Next week economic events: April 24th -30th
|Monday||New Home Sales|
|Tuesday||CPI q/q||Core Durable Goods Orders m/m
CB Consumer Confidence
Flash Services PMI
|Wednesday||–||Pending Home Sales m/m
FOMC Statement and Federal Funds Rate
Advance GDP q/q
Core PCE Price Index m/m
Employment Cost Index q/q
Personal Spending m/m
Revised UoM Consumer Sentiment
The coming wraps with potentially high impact economic events like Aussie inflation and the weekend wrap with China PMI data. The FOMC out is the key driver for the next week.
TD Securities strategist David Tulk expected, the Federal Reserve Federal Open Market Committee (FOMC) of the April 27 statement will be “Reaffirming the familiar theme”, namely, the development of the international situation to balance the improvement in the US economic fundamentals; the Fed’s stance “cautious overall,” it means that the risks will continue to mention the global economic / financial situation constituted, is likely to make those who expect the Fed acknowledged improvements in the financial situation of disappointment, but also will make the June rate hike is significantly reduced, thereby forcing the reassessment of TD Securities had expected in June and December is expected to raise interest rates twice.
The weekly technical resistance seems at 0.7865 and 0.7940 as of now this week high made at 0.7935 levels. On the monthly chart 200, ema seems at 0.7870 levels. The daily RSI is located at 60 levels.
Technical resistance as well pushes the price to 2 days low.