Market focus

On Tuesday, 07.05.2019, the economic calendar will contain a significant amount of statistics.

Early in the day, an important Australian data will be published: the trade balance and the Reserve Bank of Australia meeting results. The main event will be the Central Bank of Australia meeting results. Market attention will be focused on the accompanying speech as interest rates are more likely to remain at the same level.

In the European session, there are data on production in Germany and real estate in the US, which will have a restrained influence on national currencies.

The US trading session will also contain a small amount of news, among which it is worth highlighting: the opening of the JOLTS vacancy in the US, business activity (PMI) of Canada and  API data on oil inventories in the US.

The main market driver in this will remain general sentiment, which will largely depend on the situation with the US-China trade relations.

Hanzenko Anton