The new weekly forex trading session for May 14-18, 2018 starts today with a very thin economic calendar, and not any major important economic events for the day. There are only a few Speeches from Central Banks Officials. This means that volatility and price action for today should be low and have most probably a range-bound trading activity.
The forex market will weigh on the economic events released past Friday, May 11, 2018 with the University of Michigan Consumer Sentiment Index beating the estimate and an actual reading of 98.8, higher than the previous reading of 98.5, and the Unemployment Rate in Canada which was unchanged at 5.8%. The USD/CAD currency pair may witness some price action if oil prices decline from the 70 US Dollars price.
This week important economic data related to the economies of Germany, Eurozone, Japan, US, Australia and Canada, so the volatility most probably will increase during the week depending on the real versus expected outcomes.
Key economic events for today:
European Session
- Eurozone: ECB Lautenschlager Speech, ECB Coeure Speech
Time: 11:15 GMT, 16:00 GMT, 18:45 GMT
American Session
- US: Fed Mester Speech, Fed Bullard Speech
Time: 06:45 GMT, 13:40 GMT
Pacific Session
- Australia: RBA Governor Debelle Speech
Time: 23:10 GMT
