US Evades Default This Time
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
5 important things this week will bring us!
- British CPI y/y (Wed, 11:30 MT (9:30 GMT)) – The level of consumer inflation for Great Britain is expected to remain at the same level. If the actual figures are higher, the GBP will rise.
- FOMC statement and Federal funds rate (Wed, 20:00 MT (18:00 GMT) time) – the rate hike is not expected, but the Fed Chair Jerome Powell may provide some comments, which will affect the volatility of the USD.
- Australian jobs data (Thu, 2:30 MT (0:30 GMT)) – The level of employment change is anticipated to advance by 15.2 thousand jobs, while the unemployment rate is forecast to remain at the same level. Higher-than-expected employment change and the lower-than-expected unemployment rate will move the AUD up.
- BOE monetary policy summary and official rate (Thu, 14:00 MT (12:00 GMT) time) – The Bank of England will keep its interest rate at 0.75%. The BOE governor Mark Carney may make some supportive comments for the GBP amid the Brexit uncertainties. Let’s see if the BOE will move the GBP even higher.
- Canadian CPI and core retail sales m/m (Fri, 14:30 MT (12:30 GMT) –If the actual figures are higher, than the forecasts by analysts, the CAD will rise.
Hot topics:
- This week we need to be ready for the fresh round of the Brexit news. The British Prime Minister Theresa May will have another Brexit vote at the Parliament. If the Parliament approves the deal this time, Theresa May will go to the European Summit in Brussels to request a short extension to Brexit until June 30. If the Parliament rejects the plan by the British Prime Minister this time, Theresa May will go to Brussels and ask for a much longer extension of the Brexit process. If the requests are rejected by the EU leaders during the European Summit on Thursday, the UK will leave the EU without a deal.
- China’s commerce minister says the foreign trade situation becomes more uncertain for the country.
- Reportedly, the Saudi oil minister says a possible decision to extend output cuts will be made in June.
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