Part 1: Weekly Performance Recap

Last week was not a clean trading week for the book. The recap shows 43 trades across a very broad mix of instruments, with 12 winners, 16 losers, and a reported net result of -8,633.6 pips. The traded universe included US500, NAS100, US30, XAUUSD, XAGUSD, major FX, Scandinavian crosses, and the main crypto pairs including BTCUSD, ETHUSD, and SOLUSD.

The important point is not just the negative number, but the dispersion. When the trade list stretches from equity indices to metals, crypto, EURDKK, GBPNOK, USDSEK, and USDJPY, the risk is that the book becomes too dependent on general volatility rather than a narrow, repeatable edge. In weeks like this, position sizing and correlation control matter more than finding the next setup.

Equities and crypto remained sensitive to rate expectations, while metals continued to trade as both inflation hedge and liquidity instrument depending on the session. FX was mixed, with the dollar still the central driver ahead of this week’s US inflation and consumer data. After a drawdown week, the priority is straightforward: reduce noise, trade fewer correlated positions, and wait for cleaner confirmation around the scheduled macro releases.

Part 2: Global Macro Weekly Outlook

This week is heavily centered on the United States. The market will get CPI, PPI, a Fed Chair nomination vote, and retail sales, all within a tight window. That combination can move the dollar, Treasury yields, equity indices, gold, and crypto at the same time, so traders should expect sharper intraday ranges and less reliable technical levels around the releases.

Tuesday, 12 May at 08:30 UTC: US Core CPI m/m, CPI m/m, and CPI y/y. This is the main event of the week. A hotter CPI print would likely push yields higher, support the US dollar, and pressure risk assets such as NAS100, US500, BTC, ETH, and SOL. Gold may also face selling if real yields rise, although persistent inflation can still support metals over a broader horizon. A softer CPI print would probably encourage a risk-on reaction, with equities and crypto bid and the dollar offered, at least initially.

Tuesday, 12 May at 12:00 UTC: Fed Chair Nomination Vote. The vote is not a typical data release, but it can still affect market tone if it changes expectations around future Fed communication. Any sign of political uncertainty around the central bank may widen risk premiums, especially in USD pairs and rate-sensitive assets.

Wednesday, 13 May at 08:30 UTC: US Core PPI m/m and PPI m/m. PPI matters because it feeds the market’s view of pipeline inflation and, indirectly, the Fed’s preferred inflation measures. If CPI is already strong and PPI confirms that pressure, the dollar could extend gains and equities may struggle. If PPI cools after a softer CPI, the market may become more confident that the disinflation path is intact.

Thursday, 14 May at 02:00 UTC: UK GDP m/m. GBPUSD will be the direct focus. A stronger UK GDP reading may give sterling some support, but the pair will still be influenced by the broader dollar backdrop after CPI and PPI. If US data is dollar-positive, a good UK GDP number may only limit downside rather than create a clean bullish trend.

Thursday, 14 May at 08:30 UTC: US Core Retail Sales m/m and Retail Sales m/m. Retail sales will tell us whether the US consumer is still absorbing higher prices and financing costs. Strong sales alongside sticky inflation can be awkward for markets because it argues against quick policy easing. Weak sales with easing inflation may help bonds and risk assets, but weak sales with sticky inflation would raise stagflation concerns and could produce choppy, defensive price action.

Weekend crypto note: Bitcoin, Ethereum, and Solana remain high-beta expressions of global liquidity. Weekend moves should be treated with caution because liquidity is thinner and price can travel quickly without strong confirmation from traditional markets. The cleaner read usually comes after Monday’s cash equity open, ETF flow data, funding rates, and open interest reset. For crypto traders, the key risk this week is a CPI-driven move in yields and the dollar. If US inflation surprises higher, chasing weekend strength could be dangerous. If CPI cools, crypto may get room to squeeze higher, but confirmation should come from volume rather than headlines alone.

From a trading perspective, this is a week to respect the calendar. There is no need to force exposure into the minutes before CPI, PPI, or retail sales. Let the first reaction clear, watch whether the second move confirms or reverses it, and keep position size aligned with the wider volatility regime.