The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Euro goes down in Asia as Germany coalition negotiations fail
On Monday, the common currency dived in Asia because German Chancellor Angela Merkel told that she would meet the German president for the purpose of informing him that she hadn’t managed to form a coalition government with the Greens as well as the pro-business Free Democrats.
The given decision to meet President Frank-Walter Steinmeier, having the power to call a new election, points to the fact Merkel wouldn’t consider forming a minority government with the Greens after the FDP suddenly pulled out of the coalition negotiations.
The currency pair EUR/USD edged down 0.40% demonstrating an outcome of 1.1744.
The currency pair USD/JPY hit 112.5, soaring 0.05%, AUD/USD reached 0.7561, sliding 0.04%. As for the pair GBP/USD, it got to 1.3205, edging down about 0.07%.
Assessing the US currency’s strength against a basket of six key currencies, the US dollar index grew 0.26% trading at 93.85.
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.