Economic calendar: Trade conflict in the spotlight

Summary:
- Trade wars likely to dominate trading amid light calendar on Monday
- Fed Vice Chairman Clarida to deliver speech today
- Czech inflation expected to remain at 3% YoY in April

Economic calendar on Monday looks empty with no market-moving events from major economies scheduled for release. However, the US-China trade conflict is likely to steer the markets this week as well therefore investors should keep on guard. Apart from that, some data from EM economies will be published. Turkish current account for March and Czech CPI inflation for April will be released at 9:00 am BST. The former is expected to show a widening to $0.98 billion while the latter should show price growth remaining unchanged at 3% YoY. Three Fed speakers round up the calendar.

Central bank speakers scheduled for today:
- 8:00 am BST - RBA’s Debelee
- 11:00 am BST - Riksbank’s Ohlsson
- 2:05 pm BST - Fed’s Rosengren & Clairda
- 6:20 pm BST - Fed’s Kaplan

Major US companies reporting earnings today:
- Legg Mason (LM.US)
- Take-Two Interactive Software (TTWO.US)

Major European companies reporting earnings today:
- E.ON (EOAN.DE)
- Hochtief (HOT.DE)
- Prysmian (PRY.IT)

USDCZK is trading higher on Monday morning as the US-China trade spat forces traders to look for safety. The pair trades around the midpoint of the upward channel and slightly above the 50-session moving average. Note that long upper wicks of last week’s candlesticks (orange circle on the chart above) hint that bulls may be looming in the 22.95-23.00 area. Source: xStation5