Here are the Economic Events you should know for the week! Get ready for the market volatility!
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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.
Demand for the American currency is still level. On Friday, the optimistic statistics on the US labor market were published. In May, the number of people employed in the nonfarm sector of the country increased by 223,000, which is significantly higher than the forecasted level of 189,000. The growth in the average hourly wage exceeded market expectations and amounted to 0.3%. The unemployment rate fell from 3.9% to 3.8%. Currently, the currency majors are consolidating.
In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.
June 4th, Monday
On Monday, the attention of financial market participants will be focused on the following economic reports:
- Retail sales in Australia at 04:30 (GMT+3:00);
- The index of business activity in the construction sector of the UK at 11:30 (GMT+3:00).
June 5th, Tuesday
On Tuesday, a key event will be the meeting of the Reserve Bank of Australia.
At 07:30 (GMT+3:00) the regulator will announce its decision on the interest rate.
It is expected that the Central Bank will keep the key interest rate at the previous level of 1.50%.
Important economic reports:
- The index of economic activity in the services sector of the UK at 11:30 (GMT+3:00);
- The index of economic activity in the non-manufacturing sector of the US from ISM at 17:00 (GMT+3:00).
June 6th, Wednesday
On Wednesday, we expect a report on the GDP of Australia at 04:30 (GMT+3:00).
Experts expect that in the first quarter the country’s economic growth will be 0.8% compared with the previous value of 0.4%.
At 17:00 (GMT+3:00) the index of economic activity from Ivey in Canada will be released.
June 7th, Thursday
On Thursday, the news feed will be calm.
We recommend paying attention to the data on GDP of the Eurozone at 12:00 (GMT+3:00).
June 8th, Friday
The trading week will end with the publication of important statistical data:
- A report on the GDP of Japan at 02:50 (GMT+3:00);
- Data on trade balance of China at 06:00 (GMT+3:00);
- Manufacturing production in the UK at 11:30 (GMT+3:00);
- Statistics on the labor market in Canada at 15:30 (GMT+3:00).
Original Source: JustForex News