This week traders get April CPI on Tuesday and PPI on Wednesday — the two prints that will tell us whether the energy shock from the US-Iran war has turned into a real, broad inflation problem.
If CPI comes in hot at 3.7%+ and PPI follows suit, the “higher for longer” rate narrative wins and the dollar strengthens. If the numbers surprise to the downside, rate-cut bets return and the dollar falls. It really is that binary this week. 🔑
Meanwhile, incoming Fed Chair Kevin Warsh is set for a full Senate confirmation vote, replacing Jerome Powell whose term ends May 15. A US-China summit on Thursday adds another layer of risk-on/risk-off potential.
EUR/USD hovers near 1.178, USD/JPY around 157, GBP under pressure ahead of UK GDP data. Big moves incoming across the board. ⚡
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📊 NordFX Weekly Forex Forecast — Inflation Confirmation Week: CPI, PPI and the Next Dollar Move was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
