The market takes breath after the long rally. What opportunities do traders have today?
5 important things this week will bring us!
5 important things you need to know about this week!
US Prelim GDP (Wed, 15:30 MT time) – the USD really needs support to return to previous highs. The forecast is weak, but if the actual data is greater, the USD will rise.
ANZ Business Confidence (Thu, 04:00 MT time) – traders will trade the NZD on the businesses’ survey. The figure above 0 is good for the economy and the NZD, below 0 is negative for the economy and the NZD.
AUD Private Capital Expenditure (Thu, 04:30 MT time) – traders will get clues on the change in the total inflation-adjusted value of businesses’ new capital expenditures. The forecast is encouraging. The AUD has chances to rise.
CAD GDP (Thu, 15:30 MT time) – GDP is a leading measure of the economic activity. If the actual data is greater than the forecast, the CAD will go up.
EUR CPI Flash Estimate (Fri, 12:00 MT time) – the forecast is neutral. If the actual data exceeds the forecast, the EUR will rise.
Turkish markets are back. Last week Turkish markets were on a break, but since Monday, they have been resuming trading. It may create significant moves of the Turkish lira. Be careful!
Wavy Italy. Italy isn’t happy that the EU ignores the migrant’s deal reached in June. As a result, Italy is ready to veto the EU budget. Uncertainties will pull the EUR down.
NAFTA, again NAFTA. The US and Mexico are near to reach the NAFTA deal. However, it will take about one week to negotiate with Canada. News will create volatility in the USD, the MXN, and the CAD.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.