Market focus

On Wednesday, July 11, 2018, the economic calendar also remains very saturated. In addition to statistics, speeches and publication of protocols will take place. So, at the beginning of the day, in addition to statistics on Australia and Japan, the market’s attention will be focused on the speech of the head of the ECB Draghi, which is likely to have a restrained influence on the market.

In the second half of the day, attention will shift to the monthly OPEC report and US statistics. The main event of the day remains the expectation of the decision of the Bank of Canada on interest rates, which is expected to raise the key rate to 1.50%. Which, of course, will cause the growth of volatility in pairs with the Canadian dollar. By the end of the European session, the speech of the head of the Bank of England Karni will take place, which can increase volatility in the pound against the backdrop of political risks in the UK.

Hanzenko Anton