Weekly Forex Analysis – Last week, the US dollar strengthened against the major currencies. A number of important statistical data were published from the USA, Great Britain, and Canada. Currently, the majors are consolidating. Investors expect additional drivers. The key event will be the publication of the report on the US labor market.
On Monday, we expect the publication of important economic reports:
– A number of statistical data on the economy of Japan from Tankan at 02:50 (GMT+3:00);
– The index of business activity in the manufacturing sector of China from Caixin at 04:45 (GMT+3:00);
– The index of business activity in the manufacturing sector of the US from ISM at 17:00 (GMT+3:00).
European financial markets will be closed due to the holiday.
On Tuesday, investors’ attention will be focused on the Reserve Bank of Australia’s decision on the interest rate at 07:30 (GMT+3:00). It is expected that the regulator will leave the interest rate at the previous level of 1.50%.
At 11:30 (GMT+3:00) the data on business activity in the UK manufacturing sector will be released.
On Wednesday, participants in the financial markets will look for the following statistics:
– Retail sales in Australia at 04:30 (GMT+3:00);
– The index of business activity in the construction sector in the UK at 11:30 (GMT+3:00);
– A report on inflation in the Eurozone at 12:00 (GMT+3:00);
– Preliminary statistics on the labor market in the US from ADP at 15:15 (GMT+3:00);
– The index of business activity in the non-manufacturing sector of the US from ISM at 17:00 (GMT + 3: 00).
On Thursday, the data on business activity in the services sector of Great Britain will appear at 12:30 (GMT+3:00).
China’s financial markets will be closed due to the holiday.
On Friday, the key events will be reports on the labor market in the US and Canada at 15:30 (GMT+3:00).
At 17:00 (GMT+3:00) the index of business activity in Canada from Ivey will be released.
Source: JustForex Broker
Tags : Weekly Forex Analysis