Welcome to Extreme Investor Network: Your Source for Stock Market Analysis
Are you looking to stay ahead of the game when it comes to the stock market, trading, and all things Wall Street? Look no further than Extreme Investor Network, where we provide valuable insights and unique information to help you make informed decisions.
US Economic Calendar: Jobless Claims, Consumer Sentiment, and the Fed
Get ready for a busy week in the US economic calendar! On Tuesday (May 7), the RCM/TIPP Economic Optimism Index will be released, with economists predicting a slight increase from 43.2 to 44.1 in May. This data will be closely watched by investors as recent indicators suggest the US economy may be losing momentum.
Thursday (May 9) will bring focus to the US labor market, with higher-than-expected jobless claims potentially impacting currency markets. A spike in jobless claims could also support bets on a September Fed rate cut.
On Friday (May 10), keep an eye on the Michigan Consumer Sentiment Survey, which is forecasted to fall slightly from 77.2 to 77.0 in May. Weaker consumer sentiment figures could signal a decline in consumer spending, impacting inflation and the Fed rate path.
Don’t forget to monitor FOMC member chatter throughout the week, as reactions to economic data could move the market.
Short-term Forecast
In the near term, USD/JPY trends will depend on data from Japan’s services sector, wage growth, and household spending, as well as US labor market data and Fed commentary. Be prepared for potential market shifts based on these factors.
USD/JPY Price Action
Looking at the daily chart, the USD/JPY is currently bullish, hovering above key moving averages. A move towards the 160 level is possible if positive economic data and central bank commentary support it. However, a break below certain support levels could signal a shift in momentum.
At Extreme Investor Network, we provide in-depth analysis and unique insights to help you navigate the stock market with confidence. Stay tuned for more valuable content to help you make the most of your investment decisions.
