The following are key talking points in the financial markets:
US Consumer Price Index (CPI):
The core CPI, excluding energy and food products, rose to 3.8% in March, driven by an increase in the cost of services. The FED’s preferred inflation gauge, the Core PCE Price Index, reflects a similar picture, suggesting little change in CPI numbers expected for this week compared to last month.
US Retail Sales:
US Retail Sales remain healthy, with key components showing strength over the past three years. April’s Retail Sales figures are expected to provide crucial insights into consumer spending behavior and its potential impact on economic performance.
EUR/USD Daily Chart – Technical Analysis:
Price action on the EUR/USD pair has been trading within a narrowing range, with resistance levels identified around 1.0830 – 1.0836. The price broke above key moving averages, indicating potential support levels near 1.0760.
USD/JPY Daily Chart – Technical Analysis:
The USD/JPY pair has maintained an extended uptrend, with recent attempts to re-enter an ascending channel. Resistance levels exist around 156.87, with moving averages forming support near 154.80 – 155.50.
USD/CAD Weekly Chart – Technical Analysis:
The USD/CAD pair broke out above a narrowing range, with resistance at 1.3830. Price action continues to trade above key moving averages, with potential support at the breakout level.
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