Wait-And-See-Mode
Welcome to a new trading week. The focus this week will be on two significant economic data releases that could increase volatility in the U.S. dollar crosses. First will be the U.S. GDP for the first quarter (Thursday) and second the March’s core PCE data (Friday), the key inflation gauge for the Federal Reserve. Should both readings prove hotter-than-expected, traders could bet on the Fed maintaining higher interest rates for longer – a bullish outcome for the U.S. dollar.
Furthermore, geopolitical developments will play a major role and if there are signs of a potential de-escalation in the Middle East, the dollar could give up recent gains.
Risk management: We will start by a very low risk this week per trade since there are no major catalysts at the beginning of this week.
Let’s wait and see.
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Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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