Focus of the traded news on Erste News
A significant amount of news traded on Erste News is expected during the week from June 3 to June 7.
On Monday, 03.06, at 17:00 data on business activity in the US manufacturing sector will be published, which displays the level of business activity. In the context of growing general trading risks and maintaining the downward dynamics of this indicator, the deterioration of business activity in the United States will be regarded as an extremely negative factor for the US economy.
On Tuesday, 04.06, at 07:30, the RBA meeting results will be published. From this meeting, the Central Bank of Australia is expected to reduce its key interest rate to 1.25%. In fact, the reduction in rates has already been taken into account in the cost of the Australian dollar, but hints about a further reduction in rates in Australia will increase the pressure on the Australian dollar.
On Wednesday, June 5, the day is full of several significant events:
At 04:30 – Australian GDP data will be released, which after the RBA meeting will be perceived very acutely. Expectations regarding this indicator remain mixed, due to the ambiguous situation with the trade war.
At 11:30 – data on business activity in the UK services sector will be published. From them we can expect confident data and restrained influence on the pound in the conditions of preservation of political risks.
At 15:15 – there are data on changes in the number of people employed in the US non-farm sector. The data has a significant impact on the dynamics of the US dollar on the eve of the Friday employment report. Expectations remain quite modest due to a significant increase in this indicator a month earlier.
At 17:00 – an index of business activity in the non-manufacturing sector of the United States will be released. The index is likely to have a more restrained influence on the market, due to a shift in focus towards the US labor market.
On Thursday, 06.06. At 14:45 – the ECB meeting results will be published. Expectations for which remain extremely restrained. In the conditions of increasing trade risks, the possibility of a softer tone of the ECB is not excluded, which will increase the pressure on the single currency.
On Friday, 07.06, market attention will be focused on employment data in the US and Canada:
At 15:30 – an employment report in the United States will be published, which is expected to be more restrained data after a significant increase in new jobs a month earlier. This report will have a significant impact on the US currency.
Also at 15:30 – an employment data in Canada. Data expectations remain more restrained, especially after a significant increase in employment in April.
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