July 23, 2018

FXPRIMUS, European PMIs and US GDP Data in the Spotlight, Trade War Tale Likely to Continue

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Here are the important market events of the week!

This article is originally referred from FXPrimus News.

Last week was a particularly bad week for Oil, the Chinese Yuan and the Australian Dollar, while other major global currencies finished Friday unchanged, factoring out Yen and the Swiss Franc.

Despite the Dollar Index appearing strong during the week and hitting a 1-year high near 95.50, the Dollar weakened 0.8% on Friday alone as US President Trump threatened to add tariffs on all $500B imports from China.

Although Trump moves markets with threats and remarks increasingly often, investors can expect markets to move on major economic indicators this coming week Europe and the US will release data on interest rates and GDP this coming Thursday and Friday, respectively.

European PMIs and US GDP Data in the Spotlight, Trade War Tale Likely to Continue

Monday, July 23rd

After failing to hit estimates in the June release, US Existing Home Sales is expected to improve to 5.46M.

Released at 14:00 PM GMT.

Tuesday, July 24th

Early Q3 European PMIs to set the tone for the day. June’s readings were indeed consistent with economic growth.

Wednesday, July 25th

Australian Inflation expectations still far from 2-3% target range but Q2 CPI most likely to be an impactful event.

Markets eye EIA’s stocks report following huge build last week.

Thursday, July 26th

ECB rates decision at 11:45 AM GMT a non-event as no changes to rates are expected.

Draghi’s speech likely to provide QE guidance, hence, may be more interesting to watch.

Friday, July 27th

US expected to deliver 4% GDP quarter on quarter, an actual figure not seen since July 2014.

Report comes out at 12:30 PM GMT.

Original Source: FXPrimus News

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