What events to follow and how to trade during the week of July 2-6?
US ISM Manufacturing PMI
|The US dollar is experiencing high volatility. Although the Federal Reserve is gradually raising rates and this is good for the USD, concerns trade about wars are weighing on the currency. The Institute for Supply Management will release Manufacturing PMI at 17:00 MT time on April 2. PMI is a leading indicator of the US economic health. A reading above 50.0 will be positive for this indicator, and the greenback will have chances to strengthen. Moreover, positive economic data may make the Fed to raise interest rates more than 3 times this year. If the indicator disappoints compared with the forecast level, the USD will decline in the short-term.|
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!
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
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).