What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
German business morale suddenly clouds before election
German business confidence tumbled suddenly several weeks before Sunday's federal election, as a poll revealed on Monday, hinting that a consumption-led rise in Europe's number one economy could lose momentum in the nearer months.
As the Munich-based Ifo economic institute disclosed, in August, its business climate index, built around a monthly survey of some 7,000 companies, declined from 115.9 to 115.2 versus a Reuters consensus expectation for a reading of 116.0.
The Ifo poll was conducted just three weeks before the election. Chancellor Angela Merkel took a fourth term. However, she requires changing coalition partners, so the indicator doesn’t take the election outcome into consideration.
The sag in Ifo's headline figure took place due to the fact that managers took a more dismal evaluation of the current business situation, to say nothing of a more clouded business outlook for the next six months.
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!