While the Trump-Xi summit in Beijing anchors the global narrative, the market's pulse shifts to the US consumer this afternoon.
Following UK's GDP and industrial production data, April Retail Sales and Jobless Claims in the US are due at 14:30 CET. These figures provide the backdrop for a heavy FOMC roster, with members Hammack, Barr and Williams all speaking tonight. Following Neel Kashkari’s warnings that the Iran war is stoking persistent inflation, traders are parsing every word to see if the Fed's door remains open for further rate hikes.
This batch of macro data will likely generate volatility on still-calm FX market, potentially moving key dollar pairs like EURUSD or USDCAD.
All times CET. Source: xStation5
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