Last week was not full of events, but we still saw decent moves in the charts of majors, S&P500, NASDAQ, oil, and crypto. The upcoming week will bring even more volatility to your favorite assets!
5 important things this week will bring us!
- FOMC Meeting Minutes (Wed, 21:00 MT (19:00 GMT) time) – The Federal Reserve announced the “patient” way of its monetary policy and decided to leave its interest rates unchanged during the last meeting in January. The minutes from that meeting will shed more light on the current economic outlook by the Fed. If it contains any supportive data for the greenback, the American currency will go up.
- Australian jobs data (Thu, 2:30 MT (00:30 GMT) time) – the level of employment change is expected to advance by 15.2 thousand jobs. At the same time, the level of the unemployment rate is forecast to remain at the same level of 5%. If employment change is higher and the unemployment rate is lower than the forecasts, the AUD will go up.
- US headline and core durable goods orders (Thu, 15:30 MT (13:30 GMT) time) - According to analysts, the level of durable goods orders will increase by 0.8%, while its core level will rise by 0.2%. The higher-than-expected figures will push the USD higher.
- Canadian retail sales and core retail sales (Fri, 15:30 MT (13:30 GMT) time) - The headline indicator will likely remain at the same level. As for core retail sales, analysts expect it to decline by 0.5%. If the actual releases are higher, it will help the Canadian dollar to rise.
- Speech by the ECB president Mario Draghi (Fri, 17:30 MT (15:30 GMT) time) – the ECB president will speak as he accepts an honorary degree from the University of Bologna. His comments or answers to the questions may provide an opportunity to trade the euro.
- Theresa May plans to dispatch her ministers across Europe during this week in an attempt to save her Brexit agreement and ask the EU members to make concessions so that the party can vote for a re-written deal. She still has 9 days left before the vote in the Parliament on February 27. If her attempts are unsuccessful by that date, the Parliament will take over the process.
- Reportedly, the US and China have made great progress in trade negotiations last week. Next round of the talks will continue in Washington. Hopefully, they provide us with more clues on the conditions of the deal.
- Trump released declaration of a national emergency along the U.S.-Mexico border in an attempt to get funds for building a wall along the US-Mexico border. This news affected the USD negatively.
The US will release the Philly Fed Manufacturing Index – the impactful event for the USD and thus for all the major pairs. It will be out on November 18 at 15:30 MT (GMT+2).
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.