Weekly Outlook 12th -16th of June


Weekly Outlook 12th-16th of June

Maximusfx.com Weekly Outlook –  After such a dramatic drop, the dollar has recovered with a significant rise on Last Friday as the Great Britain Pound endured suddenly upon the British Prime Minister Theresa May`s Conservative Party unpredictably vanished its majority in the election.

Major factor influencing in financial market last week, on Thursday, Comey defendants of President Donald Trump of firing to destabilize an investigation into Russia`s suspected involvement in the US presidential election, thus the index indicated sharp drop to 7-month low earlier in the week.

The sterling went to a dramatic lower with GBP/USD at 1.2746 after tumbling to an 8-week manger of 1.2634. The UK election result surprise put political risks surrounding potential BREXIT discussions as it starts on 19th of June.

However, the pound found some great support level upon announcements that current Prime Minister Theresa May was looking to a deal to procedure a government with provision from Northern Ireland`s Democratic Unionist Party.

The euro was fluctuating and lower against US dollar declined to 1.1194 a day later than the European Central Bank cut its inflation predictions, however declined its direction that interest rates might be cut any time soon.

It is also necessary to mention as one of the key major currency pairs, US dollar against Canadian dollar went down 0.3% to 1.3468 upon upbeat domestic jobs results might trigger the Bank of Canada interest rate raise sooner than forecasted.  

Investors in the financial market turn their attention to a greater chance of a Fed policy meeting, where Federal Reserve is forecasted to hike the interest rate this year.

In the meantime, recent economic illustrations that events in Europe, UK, Switzerland and Japan are prone to keep the eyes on their central bank meetings.  

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

12th of June, Monday

Financial Markets are closed in Australia due to a Holiday

The UK is to illustrate inflation report hearings

13th of June, Tuesday

Australia is to report private sector data on Business Confidence

The UK is to announce its inflation report monthly basis

Germany is to file its economic sentiment

The US is to release producer price inflation data

14th of June, Wednesday

China is to publish industrial production and fixed asset investment data

The US is too report on inflation and retail sales

The US Central Bank minutes on latest interest rate decision and it expectations for economic progress and interest rates by Fed Chair Janet Yellen.

15th of June, Thursday

New Zealand is to announce GDP quarterly data bias

Australia is to release employment report data

The Swiss National Bank is to report monetary policy assessment and Libor rate data.

The UK is to announce on Retail Sales data

The Bank of England is to report on benchmark interest rate, economic circumstances and factors influencing on policy decision.

Canada is to publish report on production sales.

16th of June, Friday

New Zealand is to report on manufacturing data

The Bank of Japan is to announce its benchmark interest rate and policy statement

The Eurozone is to report reviewed inflation data

The US is illustrate building permission, housing starts and consumer sentiment data.

Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.