FOCUS OF THE WEEK!
Dear traders,
The last working week of May promises to be also very rich in relevant news.
Monday, despite the actual absence of the planned statistics and a day off in the UK and the USA, will be very volatile for the euro since the results of voting in the European Parliament are expected on Sunday.
Starting on Tuesday, market activity and the saturation of the economic calendar will recover to a normal level. Among the published data is to provide data on Switzerland’s GDP, the inflation report in the UK and consumer confidence in the United States.
On Wednesday, calendar saturation will continue to grow, and on this day the results of the RBNZ meeting, French GDP and employment in Germany, and the results of the Bank of Canada meeting stand out.
On Thursday, the main event of the day will be the US GDP data, expectations for which remain highly ambiguous. Also on this day will publish data on construction in New Zealand, the trade balance and applications for unemployment in the United States.
On Friday, the saturation of the economic calendar will peak due to the publication of data on business activity (PMI) and inflation. In the morning, market attention will be focused on an inflation data in Japan and business activity in China. In the afternoon, market attention will shift to inflation in Germany, spending in the United States and Canadian GDP.
The corporate reporting calendar for the week will be almost empty; a small number of reports will be released.
Fundamental factors will continue to play a major role in the market. Earlier this week, the market will expect the results of elections to the European Parliament, which may significantly increase the volatility of the euro. The US and Chinese trade war remains the main global risk factor for the market and will continue to set the tone for trading. (Anton Hanzenko)
Have a good trading week!
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