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A large amount of news is expected this week with Erste News
Tuesday, 30.04.:
At 15:30 – CA GDP will be released. The data on Canadian GDP is expected to be very moderate and noticeably lower than the previous value (expectations 0.1%, previous value 0.3%). Against the backdrop of expectations of a slowdown in the Canadian economy, the Canadian dollar will be limited in growth.
It is also worth noting the general decline in the cost of oil, which also limits the strengthening of the Canadian dollar. The dynamism of the USD/CAD pair remains upward, despite attempts of correction after growth.
On Wednesday, 01.05, the calendar of traded news will be saturated with news:
At 01:45 – NZ Unemployment Rate. Employment data in New Zealand always have a significant impact on the New Zealand dollar. In addition, a noticeable increase in employment of about 0.5% is expected.
The dynamics of the New Zealander and the US dollar remains trapped in a downward monthly trend, which may affect trading on the news.
- At 15:15 – US ADP Nonfarm Employment Change
- At 17:00 – US ISM Manufacturing PMI
- At 21:00 – US Fed Interest Rate Decision
A series of the US data: ADP nonfarm employment change (April), ISM manufacturing business index (PMI) (April), and the Fed’s interest rate decision will have a significant impact on the US currency. Fears of a slowdown in US inflation continue to put the pressure on the US dollar.
The technical picture of the USD/JPY pair continues to be limited to the flat, which has expanded on the expectation of a decline in activity on the Japanese stock markets.
On Thursday, 02.05, the news will be concentrated around the UK data:
At 14:00 – UK BOE Interest Rate. Publication of the Bank of England meeting results , a key event for the British pound. Despite the fact that expectations regarding the UK monetary policy remain restrained, any changes in the tone of the Central Bank will be regarded as a significant driver for the British (especially after the risks of Brexit have faded into the background).
The dynamics of the British pound remains restrained negative, limited to monthly and weekly descending trends.
Friday 03.05:
11:30 – the UK Markit Services PMI. The index of business activity in the services sector (April) in the UK is expected to accelerate in April. This will indicate a slowdown in the downward trend of this indicator in the UK.
The overall dynamics of the British remains downward.
At 15:30 – US Average Hourly Earnings m/m, US Nonfarm Payrolls. The published US employment report has a tremendous impact on the US dollar. Despite restrained expectations for new jobs, the overall dynamics remains upward.
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