It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Trade ideas on June 7-11!
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!
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.