What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Aussie and Kiwi rise vs. US dollar in late trade
On Monday, the Australian and New Zealand dollars rallied because Friday's dismal American economic reports kept weighing on the US dollar and financial markets started focusing on the Fed’s policy gathering scheduled later in the week.
The currency pair AUD/USD inched up 0.30% being worth 0.8028.
The major US currency was pressured after Friday’s data disclosed that American industrial and manufacturing output suddenly tumbled in August.
Additionally, the US Commerce Department reported that in August retail sales suddenly sagged by 0.2%.
Later this week, the major US bank was supposed to leave interest rates intact, but it could provide indications on when it actually intends to start unwinding its balance sheet.
The currency pair NZD/USD soared 0.36% being worth 0.7316.
Financial markets seemed to have revived from the fact that North Korea fired another missile over Japan. That’s the isolated regime’s second missile launch over Japanese territory for the last two weeks.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.