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  • 🇺🇸 Wholesale Inventories MoM (MAR) Actual: 1.3% Expected: 1.4% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-05-07
  • 🇨🇦 Ivey PMI s.a (APR) Actual: 60.6 Previous: 72.9 https://www.dailyfx.com/economic-calendar#2021-05-07
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.16%, while traders in Wall Street are at opposite extremes with 73.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/EiAO8cJJtm
  • even an encouraging sign for $Silver here broke above resistance yday. has pulled back to find some support at that zone 27-27.23 not the same bullish flare as $gold but, encouraging nonetheless https://t.co/94XYUYtyar https://t.co/Afw32QInwm
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 1.12% Silver: 0.57% Oil - US Crude: 0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cqFJXCaNDo
  • $Gold even the pullbacks have been clean, another fresh high post #NFP https://t.co/9lkpkPJrGi https://t.co/c0uUw8gK05
  • Heads Up:🇺🇸 Wholesale Inventories MoM (MAR) due at 14:00 GMT (15min) Expected: 1.4% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-05-07
  • Heads Up:🇨🇦 Ivey PMI s.a (APR) due at 14:00 GMT (15min) Previous: 72.9 https://www.dailyfx.com/economic-calendar#2021-05-07
  • USD/CAD price action pivoted nearly 30-pips lower in response to the latest employment data. Get your $USDCAD market update from @RichDvorakFX here:https://t.co/AI9EdEY8pL https://t.co/Rfs0owYs9U
  • Gold is jumping again today and briefly tested its 200-day simple moving average before turning lower Despite the quick retracement, the gold price chart is starting to look encouraging https://t.co/Dvd4H9vQEs
Trading Video: A Reshuffle in Euro, Yen and Pound Trade Potential

Trading Video: A Reshuffle in Euro, Yen and Pound Trade Potential

John Kicklighter, Chief Strategist

Talking Points:

• The ECB rate decision was top event risk this past session - leading EURUSD to an extreme volatility swell

USDJPY and EURJPY have forged breakouts, but what would it take to turn these into true bear trends?

USDollar has stabilized at critical support, but a yield upgrade is needed to entice bulls

What kind of Trading best suits you? Technical or Fundamental? Short-term or Long-term? Take our Trader Survey and find out.

EURUSD went from one extreme of the volatility spectrum in one day. A month of record low activity was met with an extreme increase in volatility this past session after the ECB. The fundamental development from this past session was significant, but the market is particularly nervous about playing trends after so many false starts. We discuss the Euro's outlook, the building potential for risk trends and its yen cross influence, as well as the dollar's primary catalyst in today's Trading Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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