What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Finance minister: German economy will ascend firmly in the third quarter
At the beginning of the third quarter the German economy slumped after a strong performance in the first half of 2017, although indicators hint that its firm surge will continue, as the Finance Ministry announced on Thursday.
Europe's number one economy is actually facing a consumer-led upswing, driven by record-high employment, surging real wages as well as low borrowing costs. These conditions will help Chancellor Angela Merkel to grasp a fourth term in an upcoming federal election.
The Finance Ministry, actually controlled by Merkel's conservatives as well as their veteran lawmaker Wolfgang Schaeuble, stressed in its monthly report that at the beginning of the third quarter the German economy lost some momentum.
However, they added that recent economic data show that the sturdy upswing will keep its pace in the third quarter too. Moreover, business morale was still high, while German exporters were supposed to derive benefits from a global economic revival.
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
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.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!