Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
FOMC Meeting Minutes: a chance for the USD strength?
What will happen?
The Federal Open Market Committee (a department of the Federal Reserve) will publish the detailed record of the recent meeting on February 17 at 21:00 MT time. It will provide insights into the economic and financial conditions which affected policymakers' opinion.
How to trade on the FOMC Meeting Minutes?
During the previous meeting, no changes to the monetary policy were made by the Federal Reserve. Given the current weakness of the USD, traders will pay particular attention to the outlook as well as to the possible hints on further decisions. If traders get a confirmation of an improvement of US economic conditions, the USD will get a bid.
- If the FOMC is optimistic, the USD will rise;
- If the FOMC is pessimistic, the USD will fall.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.
The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.
Canada will publish Retail Sales and Core Retail Sales on June 21 at 15:30 GMT+3.