Weekly Outlook 17th-21st of July, 2017


Weekly Outlook 17th – 21thof July 2017

Maximusfx.com Weekly Outlook – The US dollar declined to its 6-month lowest against a list of major currency pairs on last Friday, upon economic news release data poor US Inflation and retail sales data contributed to dilemmas over the Federal Reserve`s projects to increase interest rates once more in this year.

According to Labor Department claim on last Friday, CPI took sluggish action towards 1.6% in June from 1.9% in May.

Accordingly, the Federal Reserve raised rates at its June summit and stick to its predictions for further rate hike this year, nevertheless submissive inflation outlook has led to dilemma over if officials will be able to stay strong at its projected shrinking route. 

Based on demonstration earlier than Congress on last Wednesday, Fed Chair Janet Yellen claimed that economy of the US is on a stable circumstance enough to hike the interest rates once more and start twisting down immense bond portfolio.

US dollar against Japanese Yen declined at 112.53 then drop off to 112.28 previously and meanwhile the Euro currency pair experienced with a progress against US dollar to 0.62% to 1.1469.

It is also necessary to mention as one of the key major currency pairs, sterling went up to 1.24% against the dollar, meanwhile Australian dollar rushed dramatically as AUD/USD soaring 1.28% on Friday over the concerns of a risk on trade as global stock markets beat the peak highs.

Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of Thursday`s European Central Bank Meeting for new signs on when the central bank will move away from its current ultra-easy policy.

In the meantime, recent economic illustrations show that Monday`s report on Chinese next quarter progress will be under close attention in addition to UK`s inflation data report.

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

17th of July, Monday

Financial Markets in Japan are closed due to a holiday

China is to report data on GDP, industrial production and business investment

The Europe is to illustrate on reviewed data on CPI

Canada is to announce on foreign securities trades

The US is to announce data on factory production activity

18th of July, Tuesday

New Zealand is to announce inflation data

The Reserve Bank of Australia is to announce the minutes of its final monetary policy meeting

The UK is to announce its final inflation figures

The ZEW Institute is to report on German Economic Sentiment

The US is release on import prices

Bank of England is to give a speech by a Governer Carney

19th of July, Wednesday

Canada is to announce on factory production sales

The US is to report on building permits and housing starts

20th of July, Thursday

Australia is to announce its employment reports

The Bank of Japan is to release its benchmark interest rate

The UK is to announce data on retail sales

The ECB is to report on its latest monetary policy decision and President Mario Draghi is to give a speech at the conference

The US is to report data on initial jobless claims and factory production activity

21st of July, Friday

The UK is to announce on public sector net borrowing

Canada is to report on inflation data and retail sales


Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.