
The Bank of England will publish a monetary policy summary on Thursday, June 16, at 14:00 MT time (GMT+3).
The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3. These are the diffusion indices based on surveyed purchasing managers in the manufacturing and services industries. The surveys ask about 800 purchasing managers to rate the relative level of business conditions.
Generally, businesses quickly react to the changing economic situation. After the indices are calculated, we can compare them and see the conditions of industries. If the index is above 50, an industry is expanding. Vice versa, if it is below 50, an industry is contracting. An expansion is usually a bullish sign for the USD because it means that the economy is growing.
During the previous release, Flash Manufacturing PMI came out at 57.5 (vs. 57.6 forecasted), while Flash Services PMI dropped to 53.5 (vs. 55.1 expected). As a result, the US dollar weakened in the short term. If you traded one lot of EURUSD on this release, you could have earned around $270.
The indicators are likely to influence the USD pairs. You need to wait for the releases and compare the actual figures from the economic calendar with the forecasts.
Instruments to trade: XAUUSD, EURUSD, USDCAD, USDCHF.
The Bank of England will publish a monetary policy summary on Thursday, June 16, at 14:00 MT time (GMT+3).
The Federal Reserve will make a statement regarding the future monetary policy on Wednesday, June 15, at 21:00 MT time (GMT+3).
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
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