FXPRIMUS, Weekly Market Report: Major Speeches And The OPEC Meeting
What’s happening in the market this week? Check out the important market events and indicators!
FXPrimus has summarized the important market indicators of the day.
This week;’s Indicators
Last week was quite exciting for traders, with the mid-week FOMC followed by ECB President Draghi’s Friday announcement regarding inflation rates, which caused USD to strengthen against both the Euro and the British Pound.
President Draghi is expected to give speeches on three days this week, while RBA Gov Lowe, BOJ Gov Kuroda, and Fed Chair Powell will also deliver mid-week speeches.
This week will end with the much-anticipated OPEC meeting in Vienna.
The market is yet to stabilise after a rather fluctuating week, while more volatility is expected with the speeches and the OPEC meeting due.
June 18th, Monday
Today, markets are expected to be moderate, particularly on the eco side of things, as the only major economic data due is expected from the speech of ECB President Draghi, the first of three speeches to be delivered the week.
June 19th, Tuesday
Economic week starts today after a slow Monday.
Tuesday is expected to be a more interesting day with economic news coming from Australia, with Monetary Policy Meeting Minutes.
Mid-day, ECB President Draghi will deliver his second speech, while the day will end with a forecast of Building Permits coming from the United States.
June 20th, Wednesday
Variation of economic data expected.
Quite a few economic data expected mostly towards the end of the day, including simultaneous speeches by RBA Gov Lowe, ECB President Draghi, Fed Chair Powell and BOJ Gov Kuroda, which are expected to cause some volatility in the markets.
Wednesday ends with Crude Oil Inventories, released two days before the OPEC meeting on Friday.
June 21st, Thursday
A particularly busy day, right before the OPEC meeting.
Traders are expected to look forward to Thursday due to the plethora of economic data coming on all fronts, starting with GDP for the New Zealand dollar early on, and continuing with Libor Rate, SNB Monetary Policy Assessment and SNB Press Conference for the Swiss Franc.
More eco data are also expected from Great Britain, including MPC Official Bank Rate Votes, Monetary Policy Summary and Official Bank Rate, with no change expected from previous.
June 22nd, Friday
Ending the week with OPEC meetings. Friday is expected to be rather quiet, with the exception of all-day OPEC meetings in Vienna.
It is expected that Russia and Saudi Arabia will increase output after a year of supply curbs and, if production is indeed going to be increased, the question remains of how drastic this increase will be.
Other eco data is expected from Canada, specifically, CPI m/m and Core Retail Sales m/m, which are likely to affect the currency.
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