We prepared an outlook of major events of this week. Check it and be ready!
5 important events this week will bring us!
- Rate statement by the Reserve bank of Australia (Tue, 7:30 MT (4:30 GMT time)) – Analysts anticipate a rate cut to 1%. The decision is already priced in. If the rate cut happens, the AUD will weaken. On the other hand, if the bank decides to keep the rate unchanged, the aussie may be supported.
- Canadian trade balance (Wed, 15:30 MT (12:30 GMT time)) – Higher-than-expected figures will be good for the Canadian currency.
- Australian retail sales (Thu, 4:30 MT (1:30 GMT time)) – According to the forecasts, the indicator will advance by 0.2%. If the actual level is higher, the CAD will go up.
- Canadian jobs data (Fri, 15:30 MT (12:30 GMT time)) – If the level of employment change is higher and the unemployment rate is lower than the forecasts, the loonie will rise.
- NFP (Fri, 15:30 MT (12:30 GMT time)) – Will NFP come out better than the previous release? Let's find out on Friday.
- During the meeting between the US president Donald Trump and Chinese President Xi Jinping, the leaders agreed to restart trade talks. The US president promised not to add more tariffs on Chinese goods.
- OPEC+ members agreed to extend oil production output cuts for 9 months.
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.