- The theme of US Dollar strength remains in the spotlight this week as we get the release of April inflation numbers. March inflation printed at fresh one-year highs, and since then we’ve seen a remarkable turn-around in the Greenback as the currency appears to have awoken from its 2017 slumber. The big question is one of continuation potential – as the US Dollar remained weak in the immediate aftermath of last month’s inflation print; only starting to surge a week later around the release of UK inflation numbers for the month of March.
- The expectation is for US inflation to have risen by 2.5% in the month of April, and this will keep the US Dollar in the spotlight in the near-term as the bullish breakout from the past few weeks has continued in a rather noticeable manner. Also on the calendar are rate decisions out of the Bank of England and the RBNZ; and noteworthy is a light Euro calendar as EUR/USD has sunk down to fresh 2018 lows to start the week.
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Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator.
Back-Loaded Economic Calendar Brings RBNZ, BoE, US CPI
This week’s economic calendar is back-loaded, with a series of high-impact