What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Important events for March 9-13
Inflation data: overshadowed by the risky factor
On Wednesday, the United States will publish the inflation data at 15:30 MT time. This data, represented by headline and core consumer inflation indices, usually has a great impact on the USD. However, this time we may not see the figures accurate enough to suggest the actual conditions of the US economy due to the ongoing coronavirus outbreak in the United States. For now, analysts forecast the headline CPI to remain at the same level. As for the core data, it is forecast to advance by 0.2%.
ECB: waiting for the next move
The European Central Bank is going to be under the spotlight this week due to its meeting on Thursday at 14:45 MT time. Why? That’s because it will be the first meeting since the start of the coronavirus outbreak and an emergency rate cut by the Federal Reserve. The question which comes to our mind is: will the ECB President Christine Lagarde follow the Fed’s move? Analysts doubt about that. Some see just a small number of measures, including targeted longer-term refinancing operations (TLTRO) and an increase of the Corporate Sector Purchase Programme (CSPP). For sure, this is going to be a real challenge for the new ECB president. Thus, we need to pay attention to the fresh announcements by the regulator and the speech by Ms. Lagarde during a press conference.
Great Britain releases its budget
Another important event of the next Wednesday will be the British annual budget release at 14:30 MT time. Although it may be overshadowed by the coronavirus fears as well, it has the potential to shake the British pound.
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!