Weekly Outlook 3rd-7th of July, 2017


Weekly Outlook 3rd – 7thof July 2017

Maximusfx.com Weekly Outlook – The US dollar stabilized against a list of major currency pairs on last Friday, however still indicated 9-month low due to concerns over potential tightening monetary policy as central banks join the Federal Reserve across the globe.

Upon tighter monetary policy decision across many countries` Central Bank such as European, Bank of England and Bank of Canada approved a more aggressive view on monetary policy.

Aggressive indications from foreign central banks compared with uncertainties over if the Federal Reserve will be able to raise the rates again this year provided a recent consignment of scrawny US economic data and developing doubts over Trump administration will be able to carry on its professional- progress plan.

Euro currency pair was lower against the dollar on last Friday with a 0.13% to 1.1425 however it is important to mention that on Thursday it touched the 14-month peak high of 1.1444 finalized the week with a gain of 2.02%.  

It is also necessary to mention as one of the key major currency pairs, sterling was to some extent higher against the dollar, increasing 0.16% closing the week with a gain of 2.22% and meanwhile Canadian dollar was higher as USD/CAD went down 0.34%, Japanese yen down 0.2% to 112.40 US dollar against yen.

Investors in the financial market turn their attention to a greater chance of a Fed Chair Janet Yellen speech on Wednesday where Federal Reserve creates more clues on forthcoming illustration of further rate hikes and Friday`s US jobs report for last month will be followed up with a high attention.

In the meantime, recent economic illustrations show that Canada employment data will be under attention as if Bank of Canada could raise interest ratees as soon as this month.

Here is the weekly outlook in the financial market by Maximusfx.com categorized as a list that could cause major volatility across currencies   

3rd of July, Monday

Japan is to establish the results of the manufacturing and service industry survey.

China is to announce its PMI

The UK is to announce data on Manufacturing activity

Financial Markets in Canada are to remain closed for a holiday

BoE is to give a speech at the event

4th of July, Tuesday

Australia is to announce data on retail sales

The Reserve Bank of Australia is to report its benchmark interest rate and publish a rate that indicates factors influencing on the monetary policy decision

The UK is to report on construction activity

Financial Markets in the US are closed due to a Holiday

5th of July, Wednesday

The UK is to report on service industry activity

The US is to announce on factory orders

The FED is to announce reports on monetary policy meeting

6th of July, Thursday

Australia is to announce data on the trade balance

Switzerland is to show data on inflation figures

The US is to announce reports on ADP non-farm payrolls for January

Canada is to report on building permission

7th of July, Friday

The UK is to release sector data on house price inflation and on manufacturing production

Leaders from G20 nations of a summit meeting in Hamburg

Canada is to release its monthly employment report

The US is to release non-farm payrolls report for June  


Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.