FOCUS OF THE WEEK!
Dear traders,
The coming week promises to be extremely rich in data, not only thanks to the beginning of the month, but also to publications of world CB reporting. So, on Monday the economic calendar is almost empty, which can be a reason for correcting the positions for the forthcoming information week.
Since Tuesday, the calendar will be rich for the news. At the beginning of the day there will be data on China’s business activity, and a preliminary report of the Bank of Japan. The second half is not less saturated, there will be employment data in Germany, preliminary inflation of the eurozone and Canada’s GDP, which will ensure high volatility throughout the day.
On Wednesday, in addition to employment data in New Zealand and business activity in China, Germany and the United Kingdom, the highlight of the day and perhaps one of the main events of the week will be the publication of a decision on the US Federal Reserve meeting, which will be expected to comment on the rate increases in the future. The decision of the Fed will be affected by Trump’s comments on the strong US dollar.
On Thursday, attention will shift to the results of the meeting of the Bank of England, which is expected to raise the key interest rate. In this case, the market will also follow the protocol of the UK Central Bank, and the economic calendar remains saturated.
On Friday, the main focus of the market will be on the US employment report, which will be viewed through the prism of the results of the Fed meeting, which will only strengthen the expectations of this report. Expectations for employment in the US remain very modest, which may cause a correction in the dollar position.
The corporate calendar for the week is full, which will also continue to set the mood in the stock markets.
From the fundamental news, it is worthwhile to focus on the trade confrontation of the United States. Despite the easing of tension around the negotiations with the EU, the trade conflict between the US and China remains open. Also, do not forget about the protectionism of Trump and his comments on the strong dollar, which in the run-up to the meeting of the US Federal Reserve can become the reason for speculation. (Anton Hanzenko)
Have a good trading week!
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