JustForex as summarized the important Economic Events of the week for you!
This article is originally referred from JustForex News.
Today, JustForex’s financial analyst has prepared for you a new review of events for this week.
Please note that these events may have a significant influence on the Forex market. Choose and monitor those of them which are the most important for your trading.
On Friday, May 26, the US dollar strengthened its positions in regards to major world currencies. The dollar index (#DX) increased by 0.19%. According to The Bureau of Economic Analysis of the United States, the country’s economic growth was 1.2% in the first quarter of this year (year on year). Market expectations were at the level of 0.9%. The British currency is under pressure due to a reduction in the leadership of the Conservative Party before the upcoming elections on 8th June.
On Thursday, May 25, OPEC extended the agreement for reduction oil production for the second half of 2017.
As always, a number of important macroeconomic data and news are expected to be published in the upcoming trading week.
May 29th, Monday
On Monday, the news background will be pretty calm. Financial markets in the US, Britain, and China will be closed due to holidays. You should expect a lower trading activity and volatility.
We recommend paying attention to the press conference of the head of the ECB Draghi (16:00 GMT+3:00).
May 30th, Tuesday
China’s financial markets will also be closed due to the holiday.
In the Asian trading session, a number of statistics on spending and retail sales in Japan will be published. Also, there will be data on building permits in New Zealand and Australia.
At 3:00 (GMT+3:00), we expect inflation statistics in Germany.
Economic reports from the USA:
- the data on incomes and expenditures of individuals (15:30 GMT+3:00);
- the consumer confidence index of CB (17:00 GMT+3:00).
May 31st, Wednesday
On Wednesday, the news background will be quite eventful. In the Asian trading session, Reserve Bank of New Zealand will publish a report on the economic situation in the country. At 04:00 (GMT+3:00) the data on China’s business activity will be released.
In the European trading session, we expect the following statistics:
- the report on the labor market in Germany (10:55 GMT+3:00);
- the data on inflation and unemployment in the Eurozone (12:00 GMT+3:00).
At 15:30 (GMT+3:00), Statistics Canada will publish the data on the country’s GDP. Later, there will be reports on unfinished sales in the US real estate market and the Fed’s Beige Book.
June 1st, Thursday
During the Asian trading session, the data on the volume of retail sales in Australia (04:30 GMT+3:00) and business activity in the manufacturing sector of China (04:45 GMT+3:00) will appear.
At 08:45 (GMT+3:00) the data on the GDP of Switzerland will be released. In the European trading session, we expect statistics on business activity in the manufacturing sector in Germany and the United Kingdom.
At 15:15 (GMT+3:00) the preliminary report on the labor market in the US from ADP will be published. At 17:00 (GMT+3:00) we expect the report on business activity in the US manufacturing sector from ISM.
June 2nd, Friday
The attention will be focused on the US labor market report (15:30 GMT+3:00). We also recommend paying attention to the following statistics:
- the index of business activity in the construction sector of Great Britain (11:30 GMT+3:00);
- the data on the balance of visible trade in Canada and the United States (15:30 GMT+3:00).
Original Source: JustForex News