Expectations for the upcoming week
The first working week of the summer is not characterized by extraordinary scheduled news, but is full of statistics on business activity in key countries. In addition to data on business activity, the first half of the week (Tuesday, Wednesday) will be full of news from the Central Bank.
On Tuesday, the Reserve Bank of Australia’s decision on interest rates will be published. Also on this day will be the speech of the head of the ECB Draghi. On Wednesday, the GDP of Australia will be published.
On Thursday and Friday, the market will be focused on the speech of the head of the Bank of Canada Poloz and the GDP data of Japan.
But the main sentiment of the market will continue to set risks and data on the trade confrontation of the United States. Also, the market will monitor the development of existing acute issues around US import tariffs and the situation with North Korea.
The oil market is likely to continue to maintain a restrainedly negative sentiment, expecting an OPEC meeting and fearing a decision to raise quotas for oil production. In this case, the differential of the value of BRENT and WTI brands will continue to increase due to the growth of drilling activity in the USA.
Also, read: “Money Management in FOREX – URGENT/IMPORTANT”
Hanzenko Anton
We would like to remind you that you can always get acquainted with the upcoming news in the Economic Calendar, and in the Analytics section there are technical analysis, experts’ opinions and Trade signals!
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