Today will be full of news and macroeconomic reports, so volatility on the market is expected to be high. In the morning the minutes of the RBA April meeting were published, which pointed to a willingness to decrease the rate, which is now at a record low of 1.5%. In this regard, the value of the AUD decreased against major currencies. At the same time, the Australian dollar may recover quickly due to the optimism that prevails on the market after messages about successful negotiations between China and the United States.
At the beginning of the day the focus of investors is the EU and the UK: the publication of the index of economic sentiment in Germany and in the EU as a whole. Data from Britain on unemployment met the expectations of investors. The unemployment rate remains at its current low of 3.9% for the second consecutive month. This certainly strengthened the value of the GBP amid investors' fears for the British economy because of the fatal situation with Brexit.
In the afternoon reports are expected from Canada and the United States on sales in the manufacturing sector and industrial production. The day will end with new data on oil reserves in the United States. At the same time, oil today is in the minus due to investors' concerns about the growth of shale oil extraction and negative market forecasts for oil reserves in May.
Safe assets are still without supporting factors, given the optimism about the trade conflict between China and the United States. Demand for risky assets is expected to be high. Therefore, today it is worth it to postpone the deals in favor of the JPY, CHF, and Gold.
