Next week’s market movers

• On Monday, we get Japan’s Trade balance for May.
• On Tuesday, RBA’s meeting minutes will be released.
• On Wednesday, the US Current Account balance for quarter 1 is due out.
• On Thursday, we get New Zealand’s GDP growth rate for Q1 and later the BoE’s interest rate decision could keep the markets on its toes.
• On Friday, we’ll have a busy day as we get Japan’s inflation data for May, France’s, Germany’s and Eurozone’s PMIs, Canada’s inflation data for May and Canada’s retail sales growth rate for April. Be advised that on Friday the OPEC meeting will be nearing a close and we could have some volatility in oil prices.

In the next week a number of financial data releases could attract the market’s attention.

Our team handpicked the ones which it considers as the most influential and discusses their possible forecasts and their respective effects on various currencies.

On Monday, during the Asian session we get Japan’s trade balance figure for May. The figure is expected to be a deficit of -235.0B compared to previous reading of +626.0B.

Should the actual figure meet the forecast we could see the yen weakening as the figure would not only be reduced but also taking a negative sign signaling trouble for the Japanese economy which highly export oriented.

On Tuesday…

For the full weekly report by IronFX, please refer to the PDF below.

IronFX Weekly Report