Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
5 important events this week will bring us!
- US retail sales and core retail sales (Tue, 15:30 MT (12:30 GMT time)) – According to analysts, both headline and core retail sales will advance by 0.1%. Higher figures will boost the USD.
- Speech by the Fed Chair Jerome Powell (Tue, 20:00 MT (17:00 GMT time)) – If Mr. Powell provides supportive comments for the USD this time, the US dollar will go up.
- British CPI (Wed, 11:30 MT (8:30 GMT time)) – The indicator is expected to increase by 2%. If the actual release outperforms the forecasts, the GBP will rise.
- Australian jobs data (Thu, 4:30 MT (1:30 GMT time)) – Analysts anticipate the slowdown in the employment change (from +42.3K last time to +9.1K) and the stable level of the unemployment rate at 5.2%. If the actual figures of employment change are higher and the unemployment rate is lower than the forecasts, the Australian dollar will move up.
- Canadian core retail sales (Fri, 15:30 MT (12:30 GMT time)) – The indicator is forecast to increase by 0.3%. Greater figures will be positive for the loonie.
- After the release of Chinese GDP growth showed the slowdown, reaching only 6.2%, US President Donald Trump tweeted that China wants to make a trade deal soon.
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3).
Oil dropped to the lows unseen since late May. Bitcoin has dropped below $30,000, while gold has reversed up from a dip under $1,800.
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.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
PMI reports from the EU, the UK, and the USA will be released during the day!