There are 3 important macroeconomic releases during today’s session and after that API will show an inventory change on oil market in the US from the previous week:
08:30 Sweden - CPI inflation (consensus: 0,7% y/y for a headline, 1,2% for a core; previously 0,8% y/y and 1,4% y/y respectively), the data from Sweden is much more better recently. A report about unemployment surprised positively yesterday. If data comes out better than expectations, the SEK may gain against the euro today.
09:30 UK - CPI inflation (consensus: 0,4% y/y for a headline and 1,3% y/y for a core; previously 0,3% y/y and 1,2% y/y respectively). The data from the Great Britain fades into the background as the market lives only on news about Brexit which was shown on yesterday’s session.
01:30 (pm) USA - retail sales (consensus: 0,3% m/m for a headline and 0,4% m/m for a core; previously 1,3% m/m and 0,8% m/m respectively) - after great numbers on April, the market expects good figures again which may pose a risk for the dollar. It is the last important data ahead of FOMC meeting tomorrow. It is worth to see our report about US dollar.
About 40 minutes after the Wall Street closing bell, the API will release a report about inventory change on oil market in the US. The oil price has decreased in recent days, but a movement is not significant, so the data might have a huge meaning for a further performance. Bloomberg consensus indicates for the DOE report that inventories fell by 2,1 million barrels last week.
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