
Russian-Ukrainian conflict is influencing every economic aspect…
Don’t expect to relax after a super volatile previous week! The market is getting ready for yet another roller-coaster!
The pair awaits the ECB Interest Rate Decision and the US Inflation Rate on Thursday. We expect a lot of volatility if the ECB follows the recent rhetoric of the FOMC members on stimulus reduction. As for the US Inflation, it may strengthen the US dollar significantly if it exceeds the forecasts.
The Canadian dollar is enjoying high oil prices and the Bank of Canada’s small steps towards tapering. Since the middle of May USD/CAD has been consolidating right above the psychological support of 1.2000. If the BOC provides signals on more stimulus reduction this Wednesday, the breakout of this level will be highly possible.
After breaking above 1900, bulls could not hold the asset at the highs last week. Again, the focus will be on the US Inflation Rate. If the USD gets positive momentum once again, the precious metal will drop.
The OPEC+ meeting provided an optimistic outlook on demand last week and pushed the oil prices higher. The price of Brent broke above $71.50 and the price of WTI stuck above the recent peak of $67.80. While the talks between the world powers and Iran on the nuclear deal are set to continue this week, we may expect more price swings in the oil market.
Tesla’s stock dropped last Friday on the news about disappointing sales figures in China. Additionally, that, Tesla’s CEO Elon Musk keeps expressing his anger towards Bitcoin on Twitter. His comments may have an impact on the stock of the automaker as well. Don’t miss the chance!
Russian-Ukrainian conflict is influencing every economic aspect…
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
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 Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
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