The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
5 important events this week will bring us
- RBA rate statement (Tue, 5:30 MT (3:30 GMT)) – According to forecasts, the interest rate will remain steady at 0.75%. We will keep an eye on the monetary policy statement, where the regulator may throw some hints on the possible changes to the monetary policy.
- Canada’s trade balance (Tue, 15:30 MT (13:30 GMT)) – If the actual level of indicator is higher than the forecasts, the CAD will go up.
- New Zealand’s employment change and unemployment rate (Tue, 23:45 MT (21:45 GMT)) – Analysts anticipate the employment change to increase by 0.2%. At the same time, the unemployment rate is forecast to rise to 4.1%. Higher-than-expected figures of employment change and lower level of the unemployment rate will be NZD-positive.
- BOE monetary policy summary (Thu, 14:00 MT (12:00 GMT)) – The interest rate is expected to stay at 0.75%. The possible move for the British pound may come with the release of the monetary policy statement. Any hawkish comments concerning the bank’s policy amid the Brexit mess will support the British pound.
- Canada’s employment change and unemployment rate (Fri, 15:30 MT (13:30 GMT)) – If the actual level of employment change is higher and the unemployment rate is lower than the forecasts, the Canadian dollar will get positive momentum.
- During the ASEAN summit this weekend, Commerce Secretary Wilbur Ross expressed optimism that the US would reach a “phase one” trade deal with China this month and said licenses would be coming soon for American companies to sell components to Huawei Technologies Co. The news boosted the risk-on sentiment in the markets.
- Christine Lagarde will make her first speech as a president of the European Central Bank this evening at 20:30 MT (18:30 GMT) time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!