Baltic Dry Index Growth

Events, which should be paid attention to today:

09.00 Moscow time. Great Britain: Changing the volume of GDP per 1 sq. Km.

15.30 Moscow time. USA: manufacturers price index for April.


inflation growth in the United States has slightly slowed down, but this is a correction, not a trend change. Such an outcome is indicated by the growth of the Baltic Dry index, reflecting the cost of transporting dry goods – the indicator updated the maximum of this year. High inflation in the States can be preserved until autumn, after which Against the background of the high base of last year, the indicator can turn down. The reversal can happen earlier if we see a sharp decrease in oil prices, since black gold is an important inflationary component, but so far oil quotes stay higher than $ 100 per barrel. US President D. Bidend ordered the market to put an additional volume of oil from the strategic reserve from May 1 in the amount of 1 million b/s, but so far this event had no effect on the market. Commercial oil reserves in countries The OECD has been at a minimum since 2013 and it will be extremely difficult for Washington to “lower” prices down. High inflation will force Fedorrever to continue to aggressively increase interest rates, which is favorable for the growth of the dollar.

Trade recommendation: Sell 1.0542/1.0577 and Take Profit 1.0475.