5 important things this week will bring us!

5 important things this week will bring us!

What this week will bring us!

  1. British Average Earnings Index (Tue, 11:30 MT time) – the forecast is neutral. Only greater economic data will pull the GBP out of the negative area.
  2. British CPI (Wed, 11:30 MT time) – the forecast is encouraging. Will the GBP finally strengthen?
  3. US Retail Sales and Core Retail Sales (Wed, 15:30 MT time) – the forecast is mixed. Let’s see whether the actual data brings the USD to new highs.
  4. Australian Job data (Thu, 4:30 MT time) – the forecast is weak. Weak economic data will pull the AUD to lows of the end of 2016.
  5. Canadian CPI (Fri, 15:30 MT time) – the Canadian dollar needs support in times of the strong USD and the unstable oil market.

Hot topics:

  • The Turkish lira extends fall, as there is no progress in Turkish-US tensions. Early on Monday, USD/TRY broke above 7. Although the pair has been moving down up to now, the soon recovery of the lira is not anticipated.
  • The fall of lira causes problems for the EUR. The European central bank is worried about the European banks’ exposure to Turkey. The euro is in the dangerous zone.
  • The plunge of the Turkish lira caused a fall of the emerging market currencies. The South African rand and Mexican peso significantly fell early on Monday. The further escalation of Turkish-US tensions will pull EM currencies further down.

USDTRYDaily.png

 

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