Market focus

On Wednesday, August 7, the economic calendar is full of significant statistics.

At the start of the day, the RBNZ meeting results will be published, from which it is expected a reduce of the key interest rate by 0.25%. In addition to easing monetary policy, the Central Bank of New Zealand can expect soft rhetoric, which is due to the increased risks of a trade war.

European and American trading sessions do not differ with significant data. An industrial production in Germany, housing prices in the UK, business activity in Canada and oil reserves in the USA are worth highlighting from the published data. The general market sentiment will remain the main driver of the market, which will depend on the risks of a trade war.

Hanzenko Anton