Canada will publish the level of core retail sales on June 21, at 15:30 MT.
5 important things this week will bring us
- Reserve bank of Australia rate statement (Tue, 05:30 MT (03:30 GMT) time) – The rate hike is not expected, but the RBA may change its tone due to the global uncertainties. Any hints on future changes in rates may impact the AUD.
- New Zealand’s jobs data (Wed, 23:45 MT (21:45 GMT) time) – The level of employment change is expected to rise by 0.3%. At the same time, the unemployment rate for the last quarter reached 4.1% according to analysts. Will the actual data support the NZD? Let’s wait for Wednesday.
- Speech by the Fed Chair Jerome Powell (Thu, 02:00 MT (00:00 GMT) time) – The Fed Chair Jerome Powell made some cautious comments on the future monetary policy during the previous meeting. His comments made the USD suffer. Will he sound more optimistic about the global picture this time, after the second round of trade negotiations successfully over?
- Monetary policy summary by the Bank of England (Thu, 14:00 MT (12:00 GMT) time) – The bank of England will not raise its interest rate, but the BOE may provide some support to the GBP amid the Brexit uncertainties.
- Canadian jobs data (Fri, 15:30 MT (13:30 GMT) time) – Last time the actual figures outperformed the forecasts, which made the CAD move higher. The projections for this month have not been announced yet. If the situation repeats itself, the CAD will rise.
- Traders keep their eyes on the Brexit progress. On Monday, Theresa May will meet with an Alternative Arrangements group. This group unites three hardline Brexiteers, who will start to find a solution to the Nothern Ireland backstop. The positive progress will support the British pound.
- Asian markets, including China, Hong Kong, Singapore, Taiwan, South Korea, Malaysia, and Vietnam, will close for the whole week due to the start of the year of the Pig.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…