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  • 🇧🇷 Interest Rate Decision Actual: 3.5% Expected: 3.5% Previous: 2.75% https://www.dailyfx.com/economic-calendar#2021-05-05
  • $USDBRL extending its slide following a 75 basis point rate hike from the Brazilian central bank to 3.5% Another 75-bps move was hinted at for the June meeting The pair is trading at its lowest since late April #BRL #Brazil #BCB https://t.co/IyAp9DYCBG https://t.co/9ZSpXRV0g5
  • More from the Central Bank of Brazil: -Rate decision considers activity, employment -Activity has been more positive than expected -Economy should return to normal little by little -Higher energy prices to pressure short-term CPI
  • Brazil central bank decision to raise benchmark rate was unanimous $USDBRL
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 3.5% Expected: 3.5% Previous: 2.75% https://www.dailyfx.com/economic-calendar#2021-05-05
  • The Brazil Central Bank increased its benchmark lending rate 75 bps as expected - pushing it to 3.50%. The announcement came 40 minutes late....
  • S&P 500 still treading water sideways, support rising up. Get your S&P500 market update from @PaulRobinsonFX here:https://t.co/hsxwVM3Op4 https://t.co/fbmKRQZsk9
  • Brazil raises benchmark lending rate 75 basis points to 3.50% -BBG
  • Today's article discusses the revival of the reflation trade and some stocks to watch within. This morning's webinar is attached Read more - https://www.dailyfx.com/forex/market_alert/2021/05/05/Stock-Market-Forecast-for-the-Week-Ahead-Reflation-Trade-Reignited.html?ref-author=phanks&QPID=917701&CHID=9 https://t.co/eTh7zTlvTn
  • AUD/USD higher in a choppy session, however the pair struggled to break beyond 0.7750 $AUDUSD https://t.co/iSK8FxjST7
Trading Video: What Will Decide EURUSD Trend, Range or Reversal?

Trading Video: What Will Decide EURUSD Trend, Range or Reversal?

John Kicklighter, Chief Strategist

Talking Points:

• With momentum behind risk and rate expectations themes easing, there is still a bias for EURUSD

GBPUSD's return to a year-long bull trend or break of 1.6750 may be decided by UK CPI data this week

• Risk trends are a constant threat, but there is a hierarchy of opportunity starting with USDJPY

Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.

Another effort to generate enough momentum for breakout velocity grew winded this past week. Some pairs like EURUSD and GBPJPY forged serious technical breaks, while others such as GBPUSD and USDJPY came up short. Looking ahead to next week, it is important to plan for scenarios where burgeoning themes fade or otherwise finally take control of larger market trends. We discuss the circumstances and trade opportunities for 'status quo', a new era of activity and even those that may perform regardless of the systemic disposition in this weekend 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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