Market Focus

On Wednesday, 06/06/2018, despite the small variety of the economic calendar, there will be a lot of news, and the day is going to be very volatile.

In the morning, the market will be focused on data on Australia. So, the day will begin with the speech of the Deputy Governor of the RBA Bullock. The main news for Australia will be the publication of GDP. The expectation of the market relative to Australia’s GDP remains very optimistic, which could cause a significant increase in volatility in pairs with the Australian dollar.

Toward the end of the day, the market will shift to statistics on the US and Canada, namely, to the level of productivity, trade balance and business activity, which can be especially pronounced on the USD/CAD pair.

Also by the end of the day there will be data on oil reserves in the US, which are waiting for the oil market. The market will be mainly focused on the volume of oil production in the US, which can strengthen, without that, the high volatility in the oil market.

Hanzenko Anton