Market Trading Ideas for May 10-14

The week will be full of US data: inflation, jobless claims, retail sales, and some other reports. They will have a huge impact on the currency pairs with the US dollar and gold.

Inflation is the main topic of traders talks these days as it is getting closer to the levels unseen in 14 years, but the Fed tries to assure investors that inflation will stay at these heights just for a short period.

However, market participants do not fully trust these words and watch closely for Feds actions, when it will start tapering: cut asset purchases or hint about raising interest rates. When it happens, it will send the US dollar soaring.

The economic situation is getting better in the Euro Area. Increasing vaccinations and plans to ease travel restrictions can push EUR/USD higher to April highs of 1.2150.

Besides, any progress on the EU Recovery Fund should positively impact the euro as well this quarter.

XBR/USD is the UK Brent crude oil. It has been moving gradually up these days, driven by the easing of travel restrictions and the global economic recovery.

Some analysts are even talking about oil hitting $80.00 a barrel, but it should break the $70.00 resistance at first and rising cases in India may cap gains.

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