The Federal Reserve will release its statement and announce its interest rate decision at 21:00 MT time. Then, at 21:30 MT time, the central bank will hold a press conference.
Will the Reserve bank of Australia weaken the AUD?
The Reserve bank of Australia will make its statement and announce the official rate on June 4, at 7:30 MT time.
Analysts anticipate the RBA to cut its interest rate from 1.5% to 1.25%. The chances of a rate cut are high as the Australian economy keeps weakening. The slowdown of the GDP growth, falling house prices and the rise of unemployment are among the key reasons behind the anticipated decision by the RBA. Despite the high chances of the rate cut, the central bank may keep its interest rate unchanged. If it happens, the Australian dollar may get positive momentum.
• If the RBA keeps its interest rate unchanged, the Australian dollar will rise;
• If the RBA cut its interest rate, the Australian dollar will fall.
The European Central Bank plans to post its monetary policy statement together with the interest rate on June 10, at 14:45 MT time.
The Bank of Canada releases a monetary policy statement with an update on the interest rate on June 9, at 17:00 MT time.
Bitcoin has broken above $41,000 for the first time since late May. Follow US Retail Sales at 15:30 MT time!
The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15.
Gold has plunged amid the stronger US dollar as investors await the Fed’s meeting this week.