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!
Time for Canadian dollar
Instruments to trade: USD/CAD, EUR/CAD, GBP/CAD
Canada's retail sales will be out on Friday at 15:30 MT time. The last report marked the fifth monthly increase in a row, and the first time actual retail sales come out better than the estimates: 1.1% vs. the forecast of 0.2%. These days USD/CAD is trading at its multiyear low levels driven by the weakness of USD. If this time Canada’s retail sales beat expectations again, the pair will fall even deeper. Follow the report and catch the market flow!
- If sales come out better than the forecasts, the CAD will surge.
- Otherwise – the CAD will drop.
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
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!
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
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.