Market Data to Watch Out For

With all the various currency pairs trading at critical levels, it will be interesting to see which piece of data will spark major movement, especially as this week’s economic calendar is relatively light on data. The BOE is expected to release it inflationary report later during the session, while the U.S is scheduled to release its retail sales for the month of April. Recent data including comments from market gurus have stated that the worst of the economic crisis is now behind us. Despite that fact upcoming reports aren’t expected to show a dramatic improvement.

Major market moving data will be released towards the end of the week, as Europe is scheduled to release its GDP figure, a result which could present major movement on Euro crosses. In addition the U.S is scheduled to release it inflation numbers on Friday showing that prices are beginning to stabilize.
 

Currency Pair of the Day – EUR/USD

Comment – The EUR/USD is now trading at major resistance. Today’s retail sales figure could spark movement on this pair.

Market Pivot Points

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