Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
5 important events this week will bring us!
- Canadian GDP growth (Tue, 15:30 MT) – If the indicator outperforms the forecasts, the loonie will get boosted.
- Jobs data for New Zealand (Wed, 01:45 MT) – Analysts anticipate the level of employment change to increase by 0.5%. As for the unemployment rate, it is projected to decline to 4.2%. Higher figures for the employment change and lower for the unemployment rate will be positive for the NZD.
- FOMC statement (Wed, 21:00 MT) – The Federal Reserve will keep its interest rate unchanged at 2.5%. Traders need to pay attention to the tone of the statement and comments by the Fed Chair Jerome Powell. If they are hawkish, the USD will be supported.
- BOE monetary policy summary (Thu, 14:00 MT) – The Bank of England’s future steps have been covered with the Brexit fog after the previous meeting, that is why any supportive comments by the BOE governor will be good for the GBP.
- NFP (Fri, 15:30 MT) - The most anticipated indicator will advance by 181 thousand payrolls, according to forecasts. If the actual level is higher, the USD will rise.
Hot topics:
- The US-China trade talks will continue this week on April 30 in Beijing. According to the US Treasury Secretary Steven Mnuchin, the sides are heading close to the final agreement. However, the key issues including intellectual property and forced technology transfer are still unresolved. Positive progress in these negotiations will increase the risk-on sentiment in the market.
- Oil fell after the demand of US president Donald Trump to raise the output to soften the impact of the American sanctions against Iran.
- Theresa May tries to find a way to secure the Brexit deal before the EU elections on May 23. Reportedly, the government is not ready to have another vote for the deal in Parliament this week.
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