What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
5 important events this week will bring us!
- Rate statement by the Reserve bank of Australia (Tue, 7:30 MT (4:30 GMT time)) – Analysts anticipate a rate cut to 1%. The decision is already priced in. If the rate cut happens, the AUD will weaken. On the other hand, if the bank decides to keep the rate unchanged, the aussie may be supported.
- Canadian trade balance (Wed, 15:30 MT (12:30 GMT time)) – Higher-than-expected figures will be good for the Canadian currency.
- Australian retail sales (Thu, 4:30 MT (1:30 GMT time)) – According to the forecasts, the indicator will advance by 0.2%. If the actual level is higher, the CAD will go up.
- Canadian jobs data (Fri, 15:30 MT (12:30 GMT time)) – If the level of employment change is higher and the unemployment rate is lower than the forecasts, the loonie will rise.
- NFP (Fri, 15:30 MT (12:30 GMT time)) – Will NFP come out better than the previous release? Let's find out on Friday.
- During the meeting between the US president Donald Trump and Chinese President Xi Jinping, the leaders agreed to restart trade talks. The US president promised not to add more tariffs on Chinese goods.
- OPEC+ members agreed to extend oil production output cuts for 9 months.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.