Financial Calendar
May 7th (Tuesday) Data and economic events (Beijing time)
12:30 Reserve Bank of Australia announces interest rate decision and monetary policy statement
13:30 Reserve Bank of Australia Governor Lowe holds a press conference
13:45 Switzerland April Seasonally Adjusted Unemployment Rate
14:00 Germany March Seasonally Adjusted Trade Balance
United Kingdom April Halifax Seasonally Adjusted House Price Index Monthly Rate
14:45 France March Trade Balance
17:00 Eurozone March Retail Sales Monthly Rate
8th
00:00 EIA releases Monthly Short-Term Energy Outlook report
04:30 U.S. crude oil inventories for the week ending May 3
Market Review
On Monday, Federal Reserve's Williams said the Fed will eventually cut rates, but it depends on the data; Barkin believes that the full impact of rate hikes has not fully manifested yet, confident that the current restrictive interest rate level is sufficient to curb demand; Moreover, the Fed's latest bank loan survey showed that more banks tightened loan standards in the first quarter. The US Dollar Index briefly lost the 105 level but later recovered all losses and turned positive, eventually closing at 105.09.
Focus Today
US Dollar Index: Short-term continues to close above 105, today's focus is on yesterday's high at 105.2. Further upward breaking will form a bullish pattern on the daily chart for long positions, with current resistance at 105.6-105.8 area, consider short positions upon resistance confirmation.
EUR/USD: Short-term faced resistance at 1.079 again, with resistance still in place. Today's focus is on the 1.075 line, a break below will initiate a downward adjustment. Support lies at the 1.07 level, consider long positions after testing the support area and stabilizing.
GBP/USD: Continue to focus on the 1.26 resistance level today, inability to break above it advises short positions. Support is found at 1.245-1.248 area, consider profit-taking for short positions once the price corrects to this area, then reassess the market for long opportunities.
USD/JPY: The price continues to trend upward from the 152 level, short-term focus on the 155 resistance area. Appropriately take profits on previous long positions if it fails to break effectively. Consider adding to long positions after a successful breakthrough 155.5.
AUD/USD: In light of today's Reserve Bank of Australia interest rate decision, short-term focus on the 0.664-0.667 resistance area. If the price fails to break above effectively, consider short positions. Support lies at 0.657-0.659, consider long positions after a price correction and subsequent rebound.
USD/CAD: After a second decline to the 1.365 level, the price stabilized and moved upward. The short-term focus is on the 1.37 resistance area. A breakthrough suggests testing the 1.374 resistance area, consider short positions if it fails to break above effectively, relying on the 1.37 resistance area.
Crude Oil: The downtrend continues, with short-term rebounds being weak, and strong resistance now at the 80.5-81 area. Short-term resistance is noted at 79-79.5, with price rebound failures expected to lead to further declines. Aggressive traders should wait for a response at the resistance area for opportunities to short.
Gold: The current price is within the 2330 resistance area, the short-term focus is on the market reaction within this area, with a likely further decline if it fails to break above effectively. Watch for opportunities to short upon a market reaction within this area.
S&P Index: Price directly broke through the previous resistance between 5140-5160, short-term focus on a breakthrough and pullback to continue long positions. Today, if the market pulls back to around 5140 and rebounds, consider long positions, with a stop loss set below 5100.
Bitcoin: The short-term price shows a minor top pattern, today's focus is on the 64500-65000 resistance area. A direct break above will continue the bullish trend, failing to break effectively suggests a further decline. Pay attention to the market's response at this resistance area for a reversal signal. Appropriately reduce long positions from earlier, aggressive traders may consider short positions after a reversal signal appears.
