Weekly Outlook 19th - 23rd of June, 2017

2017-06-18

Weekly Outlook 19th-23rd of June

Maximusfx.com Weekly Outlook –  After such a dramatic weak result on US housing and consumer confidence data supported flutters of sluggish step of interest rate hikes by the Federal Reserve as the dollar has fallen against bucket of major currency pairs on Last Friday.

 Major factor influencing in the financial market last week, the US housebuilding went down to 3rd month lowest in 8-month period that, in turn, offers passive housing action could possibly depress potential economic progress in the next second quarter.

Even though the Federal Reserve announce relatively aggressive message on hiking interest rates, traders stay cautious over Fed`s capacity in raising the interest rate as recent economic data was released weaker than expect which suggest happening before the end of the year.  

The yen was fluctuating on last Friday and volatile due to the Bank of Japan remain interest rates same and implied that ultra-loose economic plan stay in place for some time.

It is also necessary to mention as one of the key major currency pairs, the British sterling moved higher, supported through expectancy that the Bank of England could change its carriage on low interest rates in the close forthcomings upon rising number of its members nominated in favor of a rate hike on Thursday.

Meanwhile, euro currency kept its upside progress on Friday, creating support ground upon IMF and Euro Region`s 19 finance ministers supported a payout of EUR8.5 billion to Greece to nonpayment in July and prevent additional debt economic catastrophe.

Investors in the financial market turn their attention to a greater chance of a Fed meetings where Federal Reserve creates more clues on forthcoming monetary policy plans.

In the meantime, recent economic illustrations that events on US housing data and BREXIT negotiations between European Union and Britain, besides retail sales and inflation data release from Canada are prone to keep the eyes attended on.

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

19th of June, Monday

Japan is to report on its trade balance

Australia is to report on panel discussion by the Reserve Bank of Australia.

Initial Formal Talks between United Kingdom and European Union on BREXIT discussion that last 15 months will be concluded with the UK leaving the EU.

The US Federal Reserve Chief Executive Office Evan is to give a speech

20th of June, Tuesday

The Reserve Bank of Australia is to announce its latest policy meeting

Swiss National Bank Chair is to partake in panel discussion

Bank of England Governor is to give a speech

Fed Vice Chair and Fed President is to deliver a speech

21th of June, Wednesday

The UK is to announce on public borrowing figures.

The US is to report industry data on current home sales

22nd of June, Thursday

The Reserve Bank of New Zealand is to announce interest rate decision

The US is to publish weekly bias data on initial jobless claims

Canada is to release retail sales figures.

23rd of June, Friday

The European Union is to illustrate preliminary data on producing and service industry operations before its surveys, Germany and France is to show PMI reports

Canada is to publish data on consumer price inflation

The US is to indicate official data on new home sales

 

 

Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.