The market sentiment deteriorated amid fresh US-China tensions. Investors remain cautious as increasing virus cases may damage economic activity again.
Another chance for the USD
The level of retail sales and core retail sales will be out on June 14, at 15:30 MT time.
The indicator of retail sales represents the change in the total value of sales at the retail level. Its core level excludes the sales of autos due to their high volatility. Last time both of the indicators came out lower than the forecasts. The level of retail sales declined to 0.2% (vs. the anticipated increase to 0.2%), while its core level advanced only by 0.1% (vs. the forecast of 0.7%). If this time the situation changes, the USD will rise.
• If the actual levels of indicators are higher than the expectations, the USD will rise;
• If the actual levels of indicators are lower than the expectations, the USD will fall.
Risk-on is back on the market. Riskier currencies and stocks are in favor. Gold is rising too as investors try to hedge.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
The European central bank will publish the main refinancing rate and make a statement on Thursday, July 16, at 14:45 MT time. Also, the ECB’s press conference will be later at 15:30 MT time.
Optimism about the Moderna vaccine improved the market sentiment. Let’s have a closer look, what’s happening today.
The Canadian central bank will announce interest rates and make a speech on Wednesday, July 15, at 17:00 MT time. Also, the BOC press conference will be later at 18:15 MT time.