FOCUS OF THE WEEK!
Dear traders,
Next week will be saturated with the results of the world central banks meetings. Central banks of Canada and the eurozone will publish interest rate decisions next week. In addition, the week will be saturated with data on business activity.
It is worth noting that significant news was not evenly dispersed throughout the week. The peak of news activity fell on Wednesday and Thursday. Other days it will be a small amount of statistics.
On Wednesday, the publication of the results of the Bank of Canada meeting and interest rates decision will be the main event of the day. It is expected to increase the key interest rate to 1.75%. As a result, throughout the whole week, it is possible an increase in volatility in the Canadian dollar.
On Thursday, the market’s attention will shift to the results of the ECB meeting and M. Draghi’s press conference. It is expected to be very low-key data, but some sources report that the ECB may signal the possibility of tightening monetary policy. As a result, it is possible a spike and volatility for the euro during the week.
Week will close the preliminary data on US GDP, that remain very modest. The news itself may have a significant impact on trading.
Corporate reporting data will continue to storm the stock market.
Among the fundamental factors, it is worth noting keeping of risks in the eurozone, namely the problems with the Italian budget and the delay in Brexit negotiations. Also relevant risks remain with the US trade confrontation and around the US Federal Reserve rates increase. (Anton Hanzenko)
Have a good trading week!
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