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This article is originally referred from JustForex News.
Today, JustForex’s team of financial analysts has prepared a new review of events in the upcoming week. These events can significantly affect the Forex market. Choose and track the ones that are most important to you.
Last week, the US dollar continued to lose ground relative to the majors. The Fed, as expected, left the monetary policy at the same level. The Central Bank reported weak prospects of the inflation growth, which is currently below the target level of 2%. On Friday, July 28, a mixed statistics on the US GDP was published. These events put considerable pressure on the American currency. At the moment, participants of the financial markets estimate the possibility of increasing the range of the Fed’s key interest rate in December of this year to be rather weak.
In the upcoming trading week, we recommend you to pay attention to the following economic reports and events.
July 31st, Monday
On Monday during the Asian trading session, the statistics on business activity in the manufacturing sector of China will be published at 04:00 (GMT+3:00).
During the European trading session, investors’ attention will be focused on the inflation report (July) in the Eurozone at 12:00 (GMT+3:00).
At 17:00 (GMT+3:00) the index of unfinished sales in the US real estate market will be released.
August 1st, Tuesday
On Tuesday, the news background will be very eventful. The Reserve Bank of Australia will decide on the interest rate at 07:30 (GMT+3:00). Most experts believe that the regulator will leave the interest rate at the previous level of 1.50%.
We also recommend you to pay attention to the following economic reports:
- 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 and statistics on the labor market in Germany at 10:55 (GMT+3:00);
- The statistics on business activity in the UK manufacturing sector at 11:30 (GMT+3:00);
- The preliminary data on the GDP of the Eurozone (2 sq.) at 12:00 (GMT+3:00);
- The index of business activity in the manufacturing sector from ISM in the US at 17:00 (GMT+3:00).
August 2nd, Wednesday
On Wednesday during the Asian trading session, a report on the labor market in New Zealand will be published at 01:45 (GMT+3:00).
At 11:30 (GMT + 3:00) the data on business activity in the construction sector in the UK will be released.
At 15:15 (GMT+3:00) the preliminary statistics on the labor market in the US from ADP will be released. A little bit later at 17:30 (GMT+3:00), a report on Crude Oil Inventories in the US, which may affect the dynamics of commodity currencies, will be published.
August 3rd, Thursday
On Thursday, the news background will be very eventful as well. At 14:00 (GMT+3:00) there will be a meeting of the Bank of England. Participants of the financial markets expect that the regulator will keep the interest rate at the previous level of 0.25%. At the same time, it is necessary to pay attention to the comments and rhetoric of the Central Bank representatives.
Investors will follow the economic reports:
- The trade of balance in Australia at 04:30 (GMT+3:00);
- The statistics on business activity in the services sector of the UK at 11:30 (GMT+3:00);
- The index of business activity in the non-manufacturing sector of the US from ISM at 17:00 (GMT+3:00).
August 4th, Friday
On Friday, investors’ attention will be focused on the labor market statistics in the US and Canada at 15:30 (GMT+3:00). These reports will have a significant impact on the dynamics of the majors.
We also recommend you to consider the following statistics while trading:
- The volume of retail sales in Australia at 04:30 (GMT+3:00);
- The Ivey business activity index at 17:30 (GMT+3:00).
Original Source: JustForex News