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!
- RBA rate statement (Tue, 7:30 MT (4:30 GMT) time) – We anticipate the Reserve bank of Australia to keep the interest rate unchanged at 1%. At the same time, we will be looking for more hints on further decisions, as the market expects more rate cuts until the end of this year.
- Canada’s trade balance (Wed, 15:30 MT (12:30 GMT) time) – According to the forecasts, the difference in value between exported and imported goods will reach 0.2 billion. A higher level will boost the CAD.
- Inflation report hearings by the BOE (Wed, 16:15 MT (13:15 GMT) time) – If the Bank of England governor is hawkish, the GBP will be supported.
- BOC rate statement (Wed, 17:00 MT (14:00 GMT) time) – The interest rate is forecast to remain at 1.75%. The attention will be on the tone of the central bank. As usual, more hawkish comments will be appreciated by the CAD bulls.
- US jobs data (Fri, 15:30 MT (12:30 GMT) time) – The level of non-farm payrolls is expected to advance by 168 thousand jobs. At the same time, average hourly earnings will increase by 0.3% and the unemployment rate will likely remain at the same level of 3.7%. If the actual level of NFP and average hourly earnings are higher and the unemployment rate is lower than the forecasts, the USD will rise.
- The United States and China imposed new tariffs on each other’s goods. The 15% tariffs by the US on the part of $300 billion goods was confirmed by Donald Trump during the weekend. At the same time, the retaliatory step came from China with a target of $75 billion in US goods. It pulled the risk sentiment in the market down.
- The series of court hearings, which plan to stop the British PM Boris Johnson’s prorogation of the parliament may affect the strength of the British pound. The first one is due tomorrow, so pay attention to the news. It’s worth to remember that the parliament will return on Tuesday and opposition lawmakers are expected to propose legislation to force the government to postpone Brexit.
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!