{"id":71923,"date":"2015-05-03T07:06:54","date_gmt":"2015-05-03T11:06:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=71923"},"modified":"2015-05-03T07:06:54","modified_gmt":"2015-05-03T11:06:54","slug":"the-week-ahead-03-05-2015-rba-decision-uk-election-us-non-farm-payrolls","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/05\/the-week-ahead-03-05-2015-rba-decision-uk-election-us-non-farm-payrolls\/","title":{"rendered":"The Week Ahead 03.05.2015: RBA Decision, UK Election, US Non-Farm Payrolls"},"content":{"rendered":"<div id=\"inves-207994380\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 3, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"http:\/\/GrowthAces.com\" target=\"_blank\">GrowthAces.com<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"https:\/\/growthaces.com\/sites\/default\/files\/twa_03052015.png\" alt=\"Economic Calendar And Forecasts For Forex Traders\" width=\"676\" height=\"964\" \/><\/p>\n<p><strong>EUR\/USD<\/strong><\/p>\n<ul>\n<li><strong>We expect the recent USD slide to continue<\/strong> though at a slower pace than in the past few sessions.<\/li>\n<li>We are pretty sure that the EUR\/USD will rise in the medium term. However, there are some risks in the short term.<strong>Investors are unlikely to sell the USD aggressively next week given that the April jobs report is likely to show a\u00a0 pickup in hiring<\/strong>, reversing the disappointing reading of last month. <strong>On the other hand we should expect some good macroeconomic releases from the Eurozone countries<\/strong> (industrial output data for Germany, France and Italy).<\/li>\n<li>In our opinion the EUR\/USD is rather unlikely to break below the 1.1050 support level and getting long on dips above this level could be a good idea.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>GBP<\/strong><\/p>\n<ul>\n<li><strong>The market will be focused on the parliamentary election set for May 7.<\/strong> Recent polls show the ruling Conservatives and the main opposition Labour Party neck-and-neck, making a hung parliament the most likely outcome. Prime Minister David Cameron&#8217;s Conservative Party has taken a one point lead over the opposition Labour Party, according to a YouGov poll. Conservative Party was one point ahead of the opposition Labour Party also in a poll carried out by Opinium. However, Britain&#8217;s opposition Labour Party has taken a 3 percentage point lead over Prime Minister David Cameron&#8217;s Conservatives, according to a Survation poll.<\/li>\n<li><strong>The GBP has so far held up very well ahead of elections despite huge uncertainty around the outcome. <\/strong>British PMI services reading (Wednesday 8:30 GMT) should be important for the investors after much weaker PMI manufacturing data on Friday.<\/li>\n<li><strong>Our GBP\/USD long hit the stop-loss at 1.5170 on Friday. However, the outlook is still bullish and we will be looking to get long again.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>AUD<\/strong><\/p>\n<ul>\n<li><strong>The Reserve Bank of Australia meeting is scheduled for Tuesday. The market expects a rate cut by 25 bps. In our opinion the RBA will keep rates unchanged which should give a strong boost to our long AUD\/USD position<\/strong>. Let us remind that latest CPI figures were not as low as expected, which may have a strong impact on the rate decision.<\/li>\n<li>The AUD traders will be focused also on <strong>Australian jobs report<\/strong>, to be released on Thursday (1:30 GMT).<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>NZD<\/strong><\/p>\n<ul>\n<li>The NZD\/USD fell strongly after the RBNZ comments leaving the door open for a rate cut. In our opinion a rate cut is rather unlikely, but <strong>the RBNZ decision to keep rates unchanged is in favor of carry trades, which should support the NZD. New Zealand has the highest key rates among core markets<\/strong> and that is why the currency is attractive for investors when the global risk picture improves.<\/li>\n<li><strong>We have opened NZD\/USD long position at 0.7560.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By GrowthAces.com EUR\/USD We expect the recent USD slide to continue though at a slower pace than in the past few sessions. We are pretty sure that the EUR\/USD will rise in the medium term. However, there are some risks in the short term.Investors are unlikely to sell the USD aggressively next week given that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-71923","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/71923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=71923"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/71923\/revisions"}],"predecessor-version":[{"id":71924,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/71923\/revisions\/71924"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=71923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=71923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=71923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}