Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
5 important events this week will bring us!
- British CPI (Wed, 11:30 MT (9:30 GMT time)) – According to forecasts, the indicator of consumer inflation will reach 2.0%. Higher figures will be supportive for the British pound.
- Canadian CPI (Wed, 15:30 MT (12:30 GMT time)) – Analysts anticipate the level of CPI for Canada to advance by 0.1%. If the actual figures are higher, the loonie will rise.
- FOMC rate statement (Wed, 21:00 MT (18:00 GMT time)) – The Federal Open Market Committee will release its monetary policy statement and announce the official rate. No changes to the current interest rate are expected. However, as the worries about the rate cut keep circulating, the projections by the Fed on the future changes to its monetary policy will be in the main focus of traders.
- The Monetary policy statement by the Bank of Japan (Thu, MT time morning hours) – If the most dovish central bank provides more hawkish comments this time, the JPY will go up.
- The monetary policy summary by the Bank of England (Thu, 14:00 MT time) – The interest rate is expected to stay at the same level of 0.75%. We need to pay attention to the tone of the statement amid the political uncertainties.
- According to US Commerce Secretary Wilbur Ross, there are low chances that the trade deal between the US and China will be reached during the meeting between US president Donald Trump and Chinese President Xi Jinping at G20 meeting in Osaka later this month.
- Bitcoin has reached the last May’s highs on Monday. The oldest crypto has been trading near the $9,300 level. Analysts mention the anticipation of Litecoin’s halving and the introduction of Facebook crypto as the bullish news which driving the digital asset.
- The crude oil futures have fallen down at the beginning of the week on the comments by the Saudi Energy Minister Khalid Al-Falih. He expressed hopes to extend output cuts by OPEC+ into the second part of the year.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
PMI reports from the EU, the UK, and the USA will be released during the day!
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!