Previous Trading Days Events 17.05.2024

Winners vs Losers

Silver is on the top for this week with already 1 gains and a total of 20.51 gains for the month. Gold follows with 6.47 gains this month so far.

News Reports Monitor Previous Trading Day 17.05.2024

Server Time Timezone EEST UTC 0300

Midnight Night Session Asian

China experiences slower growth on the consumer side while industrial activity remains robust. Retail sales rose by 2.3 in April compared to last year, less than the 3.8 increase forecast by a Reuters poll, and slower than the 3.1 pace reported in March. Industrial production rose by 6.7 in April from a year ago, beating expectations for 5.5 growth. AUD and CNH saw moderate depreciation after the news. AUDUSD dropped near 10 pips.

Morning Day Session European and N. American Session

The annual inflation rate in the Euro area was 2.4 in April 2024, stable compared to March 2024. A year earlier, the rate was 7.0. In the EU, the annual inflation was 2.6 in April 2024, stable compared to March 2024. A year earlier, the rate was 8.1. No market impact from the news. There are 2 versions of this report released about two weeks apart Flash and Final. The Flash release, which the source first reported in April 2013, is the earliest and thus tends to have the most impact.

General Verdict

Early USD strengthening. Volatility is moderate for a Friday in FX.
Gold moved higher quite aggressively.
Crude oil was volatile and closed eventually…