Weekly Outlook 5th-9th of June

2017-06-04

Weekly Outlook 5th-9th of June

Maximusfx.com Weekly Outlook –  Fall of the US Dollar reached 7 month low against major severe currency pairs last week upon indication of US employment data announcement to unclear for potential hikes through the Fed in 6 month period of 2017.

One of the major economy indicator, last month, US employment data shows that 130,000 jobs were reported to add as this period has been added much less than experts expectation for 185 thousands of new jobs.

Investors in the financial market see greater chance of a Fed rate hike on June despite slight low jobs report, however the slow moves in job creation development could raise possibilities for a peak in economic progress after economy progressed to 1.2% over the year in initial quarter.

The US dollar declined dramatically to 7 year low against Swiss franc and Euro giving impetus EUR/USD pair growth to 1.1280 and USD/CHF drop to 0.9623.

It is also necessary to mention as one of the key major currency pairs, US dollar against Japan Yen went down 0.88% to 110.38.

In the meantime, recent economic illustrations prove that events in Europe are prone to keep the eyes on the European Central Bank policy meeting and British Parliamentary Election . Chinese trade data is not away from investors` attention.

The financial markets, this week is mostly to stay volatile due to upcoming US former FBI director Comey's testimony to the Senate Intelligence Committee that could accumulate challenges facing the administration of Trump.

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

5th of June, Monday

China is to demonstrate its PMI figures through Caixing services

The UK is to indicate manufacturing operation data

The US is to illustrate factory orders data and manufacturing index

6th of June, Tuesday

Australia's Reserve Bank is to release benchmark interest rate and factors influencing on policy decision.

7th of June, Wednesday

Australia is to report initial quarter economic progress data

The UK is to announce house price inflation in industry data

Canada is to show its building permits report data

8th of June, Thursday

Australia and China are to demonstrate trade data reports

Switzerland is to indicate inflation figures

The UK Parliamentary Election is to release its 650 members

The ECB is to report on its recent monetary policy decision by the President Mario Draghi

The US is to illustrate its initial jobless claims

9th of June, Friday

China is to announce inflation data

The UK is to release data on manufacturing production and Consumer Inflation Expectations

Canada is to finish off the week with its unemployment rate, net change in employment and participation rate data

 

 

Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.