Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
5 important things this week will bring us!
5 important things you need to know about this week!
RBA Rate Statement (Tue, 07:30 MT time) – a change of the interest rate isn’t anticipated. But the RBA statement will create moves on the market.
BOC Rate Statement (Wed, 17:00 MT time) – the CB doesn’t plan to change the interest rate but clues on the monetary policy will be important for the CAD.
US ISM Non-Manufacturing PMI (Thu, 17:00 MT time) – data based on responses of purchasing managers will determine the direction of the USD.
CAD Jobs data (Fri, 15:30 MT time) – jobs data are always highly important for the currency. If the actual figures are greater than the forecast, the CAD will go up.
US Jobs data (Fri, 15:30 MT time) – data of three important jobs indicators will be out. Be ready for high volatility on markets.
The NAFTA deal is still unsolved. Mr. Trump twitted that there is no political necessity to keep Canada in the new NAFTA deal. If parties don’t come to a fair agreement, Canada will be out. The NAFTA negotiations will keep affecting the CAD this week.
Brexit. Possibilities of no-deal. On weekends, the Brexit secretary Mr. Raab said that he is sure about the Brexit deal but still has a plan in case of no-deal. Theresa May said that she won’t let the second referendum happen and won’t surrender. The EU negotiator Mr. Barnier said that he is strongly opposed to the UK proposals and advised manufacturers of European cars to use less British-made parts after Brexit.
Let’s see whether there is more news this week.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.