Trade ideas for August 2-6
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. |
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Will the BOE Act as the Lockdown Is Over?
The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
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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).
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