THIS WEEK'S INDICATORS
The G7 meeting took place over the weekend with the dollar weakening across major currencies including Euro, Pound Sterling and Yen due to the war of words that President Trump ignited during the meeting. A new meeting between President Trump and North Korea’s Kim Jong-un is set to take place in a historic summit. Last week was a rather volatile week for all pairs, and the expectations for the coming week remain the same. Despite the rather slow start, this week is expected to pick up on Tuesday with FOMC, ECB taking the main stage, while news regarding GBP, AUD and BOJ, wrap up the week.
DOLLAR INDEX DAILY CHART
MONDAY
Daily focus on UK Manufacturing Production m/m, rest of markets uneventful.Today markets are expected to be moderate, at least on the eco side of things, as no major indicators are due. Trading activity is likely to increase during the UK Manufacturing Production. Remaining markets are to be victims of political developments following the G7 meeting.
TUESDAY
Markets to pick up with GBP and USD news being released.A certainly more volatile session than Monday is expected on Tuesday, as UK’s Average index 3m/y is due. Additionally, CPI m/m and Core CPI m/m will follow for the US dollar. Although expectations for GBP are worse by 0.1 than previous, the USD news remain unchanged, and movement is expected ahead of the FOMC on Wednesday.
WEDNESDAY
Plethora of news through the day, with big movements expected to take place. Starting the day early with a speech from RBA Gov Lowe for the AUD, followed by the CPI for the GBP. Yet, what traders will most likely be focusing on, is a massive number of news coming from the US, with the first one being the monthly RPI, and then news about Crude Oil. Ending the day with FOMC economic projections, FOMC statement, FOMC Press Conference and Federal Funds Rate. Expectations are showing that the Dollar will continue its upward trend across the board.
THURSDAY
Another busy session on eco events, with further volatility for traders. Employment Change and Unemployment Rates are released in Australia, with expectations being lower for the former signs of AUD weakening. Another sign of Brexit is shown by Retail Sales falling by 66% from last month, showing weakness in the GBP. During the second half of the day, the ECB will have a Press Conference regarding the Main Refinancing Rate. The day will end with news coming from the dollar side, with Core Retail Sales and Retail Sales, though no major volatility is expected there.
FRIDAY:
A rather quiet Friday as the bullish Yen takes the stage. The Yen has been strengthening during the past week and the only news on Friday comes from the Bank of Japan releasing their policy rate and their Monetary policy statement, which will be followed by the press conference. Expectations equal last month’s outcome. What remains is to see if the Yen will continue picking up or if last week was just support for the currency.
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