JustForex Analysis team has summarized what’s happening this week in the market.
This article is originally referred from JustForex News.
Today, our financial analyst has prepared for you a new review of events for this week. Pick out those which results you would like to track as quickly as possible, and do not miss them.
Last week, the Bank of England, as expected, left the key interest rate at the previous level of 0.25%. At the same time, the regulator reduced the forecast for GDP growth of the country this year by 0.1% to 1.9%.
The US dollar remains under pressure amid weak economic reports on inflation and retail sales in the country. At the same time, the probability of an increase in the interest rate in June is at the level of 73.8%, which is quite a high indicator.
As always, a number of important macroeconomic data and news are expected to be published in the upcoming trading week.
May 15th, Monday
During the Asian trading session, Statistics New Zealand will publish a report on retail sales in the country. The data on investment in fixed assets and industrial production in China will be released as well.
The news background from the EU and the US will be calm. We recommend paying attention to the speech of ECB member Praet (14:45 GMT+3:00).
May 16th, Tuesday
On Tuesday, the news background will be quite eventful.
At 04:30 (GMT+3:00) the minutes of the meeting on the monetary policy of the RBA will be published.
During the European trading session one should pay attention to the following events:
- the consumer price index in Britain (11:30 GMT+3:00);
- at 12:00 (GMT+3:00) the data on the ZEW economic sentiment index in Germany and the updated report on the euro area GDP (Q1 2017) will be released.
At 15:30 (GMT+3:00), a number of economic reports on the real estate market in the US will be published.
May 17th, Wednesday
During the Asian trading session, the data on producer price indices in New Zealand and wages in Australia will be released.
At 07:30 (GMT+3:00), Ministry of Economy, Trade and Industry will publish information on the volume of industrial production.
During the European trading session, the news background will also be very eventful:
- at 11:30 (GMT+3:00) the data on the labor market in the UK will appear. Most experts expect an optimistic report;
- at 12:00 (GMT+3:00) the updated data on inflation in the euro area will be released.
May 18th, Thursday
Cabinet Office of Japan will publish a report on the country’s GDP in the first quarter. Experts expect the index to improve. At 04:30 (GMT+3:00) the statistics on the labor market in Australia will be released.
At 11:30 (GMT+3:00), Office for National Statistics of Great Britain will publish data on retail sales.
At 15:30 (GMT+3:00) we expect the index of production activity from the Federal Reserve Bank of Philadelphia.
Also, we recommend paying attention to the speech of the head of the ECB Draghi (20:00 GMT+3:00).
May 19th, Friday
On Friday, the attention of financial market participants will be directed to economic reports from Canada.
At 15:30 (GMT+3:00) the data on inflation and retail sales will be released.
Original Source: JustForex News