What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
5 important events this week will bring us!
- RBA rate statement (Tue, 5:30 MT time (3:30 GMT)) – The interest rate is expected to remain unchanged at 0.75%. Traders need to pay attention to the tone of the statement, as the regulator may provide hints on the possible changes to the interest rate in future. If the RBA forecasts a slash of the interest rate to the downside, the AUD will weaken.
- Canadian balance of trade (Wed, 15:30 MT time (13:30 GMT)) – According to the forecasts, the deficit of the balance will shorten to -0.7 billion CAD. Higher figures will boost the Canadian dollar.
- US balance of trade (Wed, 15:30 MT time (13:30 GMT)) – The deficit of trade for the United States is expected to get lower to -$49 billion. If the actual level is higher, the USD will rise.
- Canadian job data (Fri, 15:30 MT time (13:30 GMT)) – Analysts anticipate the unemployment rate to increase to 5.6%. Also, the employment change will be released, although the forecasts have not been announced yet. A higher-than-expected employment change and lower-than-expected unemployment rate will support the US dollar.
- American job data (Fri, 15:30 MT time (13:30 GMT)) – The US will release NFP alongside with average hourly earnings and unemployment rate. Experts anticipate the number of payrolls to advance by 180 thousand jobs, while average hourly earnings are expected to increase by 0.3% and the unemployment rate is forecast to remain at the same level of 3.6%.
- The improvement of the Chinese manufacturing PMI (51.8 vs. 51.5 expected) during the Asian trading session boosted the risk sentiment in the market and pushed the risk-weighted assets up.
- After the biggest Friday’s loss, the oil prices rebounded as Iraq announced deeper oil cuts ahead of the OPEC+ meeting on Thursday.
- A fresh report on the US-China trade deal expects US President Donald Trump to hold off the implementation of tariffs on December 15. At the same time, it does not expect the deal to be reached this year.
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!
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
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.
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!