The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Common currency is on defensive on political concerns
On Monday, the common currency stood on the defensive after Austria's election. It was also influenced by worries over Catalonia's confrontation with Spain, although the greenback lacked momentum after soft American inflation data.
The euro went down 0.25% in early trade, hitting $1.1806, diving further from a 2 1/2-week maximum of $1.1880 reached on Thursday.
Austria's young conservative politician Sebastian Kurz is expected to become the country's next president after Sunday’s election. Kurz will probably seek a coalition with the far right because his party is currently short of a majority.
Market participants also kept an eye on Spain, exactly where Catalan leader Carles Puigdemont is expected to finally make it clear whether he’s actually calling for Catalonia’s independence or not.
Traders weren’t excited about the greenback, as Friday's American consumer price data definitely underscored low inflation.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.