FOCUS OF THE WEEK!
Dear traders,
The beginning of the new month promises to be saturated with significant statistics. But significant fundamental factors, namely the risks of a trade war, will continue to have a key impact on the market.
On Monday, the day will be fully devoted to statistics on business activity in the manufacturing sector (PMI) of China, the eurozone, the UK and the USA. They will have a significant impact on market sentiment.
On Tuesday data on retail sales and the RBA meeting results, which is expected to reduce the key interest rate, will be published at the beginning of the day. In the European session, market attention will shift to data on inflation and employment in the eurozone. The speech of US Federal Reserve Chairman Powell and the Brexit vote will close the day.
On Wednesday, the bulk of the news will provide data on business activity in the services sector (PMI). Also on this day it is worth to highlight the data on Australia’s GDP and the change in the number of people employed in the US non-farm sector from ADP.
On Thursday, all attention will be focused on eurozone GDP data and the ECB meeting results, which are expected to be very low-key data.
On Friday, the main event of the day and week will be the US employment report. In May, the US labor market is expected to retain data, after very positive statistics a month earlier.
The corporate reporting calendar for weeks will be almost empty; a small number of reports will be released.
Fundamental factors will continue to remain the same. The US trade war, which is slowing down the global economic slowdown, and another Brexit vote that will resume the risks against the British pound. (Anton Hanzenko)
Have a good trading week!
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