The UK’s key inflation rate rallied in February, although stayed close to January's two-year minimum, assisting customers to preserve their spending power even as Brexit was still uncertain…
5 things you need to know this week
US CB Consumer confidence (Tue, 17:00 MT time) – as you may know, this indicator shows the level of consumer spending. That means you will spend more if you confident in economic conditions. Analysts expect it to drop to 136.3 points from reaching 138.4 points in September. Remember, the higher-than-expected level is good for the greenback.
The Bank of Japan press conference (Wed, tentative) – some experts anticipate the probable changes to the monetary policy of the BOJ, following the latest statements from its Governor Haruhiko Kuroda. A combination of the hawkish statements from the Bank of Japan and a sell-off in the equity markets can be quite supportive for the JPY.
Canadian GDP m/m (Wed, 15:30 MT time) – this is a nice opportunity to trade the loonie during this week, too. Last time the economic activity of the country increased by 0.2%. There is no official forecast yet, but it will definitely be announced before the release of the actual data. We will keep you updated.
Monetary policy summary from the Bank of England (Thu, 15:00 MT time) – while there are no expectations of the rate hike, the bank can make some supportive comments for the GBP. It will help the currency to recover during the uncertain Brexit times.
US non-farm employment change and employment rate (Fri, 15:30 MT time) – the NFP is forecast to expand to 191 thousand people from 134 thousand in September. At the same time, the unemployment rate will reach 3.8%, according to analysts. This level is higher than in September (3.7%), which can have a negative impact on the currency. We will see how the actual data will affect the USD.
- During the Brazil elections, Jair Bolsonaro from Social Liberal Party is proclaimed as a new president-elect. His victory speech contained his goals to reduce the size of the state and the public deficit and to cut bureaucracy and regulations.
- French finance minister Bruno Le Maire told the press he did not see any risks of contagion from Italy’s budget crisis in the European Union (EU).
- China is planning to impose the anti-dumping tax on the chemicals from the US, Saudi Arabia, Malaysia, and Thailand.
- UK's Exchequer Phillip Hammond will deliver his speech today at 18:30 MT time. During his latest interview, he told the country need to find a new tax and spending plan. He also suggested extending the supportive measures if the solution on Brexit problem is not reached soon.
Have a successful week of trading!
The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
French quarterly surge is expected to strengthen in the first half of 2019 because consumer spending derives benefits from improving household incomes as well as reviving business confidence after protests at the end of 2018…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…