Russian-Ukrainian conflict is influencing every economic aspect…
Important events this week will bring us!
- American CPI, Core CPI (Wed, 15:30 MT (12:30 GMT)) – forecasts are mixed with 0.1% for CPI and 0.2% for Core CPI. Pay attention to the actual releases. If they are greater than forecasts, the USD will move up.
- Australian job data – employment change and unemployment rate (Thu, 4:30 MT (1:30 GMT)) – analysts anticipate a smaller amount of employed people in May. However, the level of unemployment is expected to be lower. Let’s see what the real figures are.
- SNB Meeting (Thu, 10:30 MT (07:30 GMT)) – as usual, no changes to the interest rate but comments by the central bank may shake the Swiss franc.
- American Retail Sales and Core Retail Sales (Fr, 15:30 MT (12:30 GMT)) – estimates for the change in the total value of sales at the retail level are optimistic. Let’s wait whether the actual numbers are the same.
- On Sunday, Mr. Trump announced that proposed tariffs on Mexican imports would be postponed indefinitely. As a result, the USD/MXN pair opened with a big gap down. The difference between the Friday close price and Monday open price appeared to be more than 3000 points. S&P 500, Nasdaq, and the Dow Jones Industrial Average climbed on Monday morning. The market sentiment improved but analysts doubt it’s a real relief. Uncertainties around the agricultural issues exist: it's unclear whether Mexico agreed to increase agricultural purchases from the US or not.
- The market keeps an eye on the US-China trade dispute. According to the words of Mr. Trump to CNBC, China will make an agreement with the US because “they are going to have to”. At the same time, American president warned that he would decide on additional $300bn tariffs after the G20 summit. The situation may escalate because China is ready to fight back.
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!
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.