Weekly Outlook 22nd-26th of May
Weekly Outlook 22th – 26th of May
Maximusfx.com Weekly Outlook – The US dollar continued its drop on last Friday, hitting bottom lines of major currencies as political circumstances through Trump administration carried on leading market direction.
Last week data release on Friday indicated that US political environment could turn out to be overwhelmed through crisis as lawyers are avoided from pressuring through spending and tax reforms.
Hence, EUR/USD currency went to new 6 month peaks against US dollar currency progressing its position to 0.95%, meanwhile US dollar currency pair finished off the week with a 2.5% decline.
In the meantime, recent economic illustrations prove that there is highly probable economic recovery in the currency coalition is getting peak talk, pressuring to keep an eye on how fast the European Central Bank might gauge back stimulus classification.
Safe-haven currency pair, US dollar against Swiss Franc hit the 6 month lows at 0.9729 last Friday and Great Britain Pound against the dollar rising 0.73%, gaining 1.16% rise in the end of the week.
The financial markets, this week is mostly to stay volatile due to upcoming US announcement on Wednesday`s Federal Reserve meeting minutes for illustrations on the possible period of the following US interest rate hike.
Furthermore, reviewed data on US initial quarter progress and private division survey data out of the Euro zone is on alert for Investors to keep an eye on.
Here is the weekly outlook in the financial market by Maximusfx.com categorized as a list that could cause major volatility across currencies
22nd of May, Monday
Brussels scheduled talks by Eurozone Finance Ministers
Canadian Banks are closed for a holiday
23rdof May, Tuesday
Survey data release on private division business activity by Eurozone
Germany business climate release report
UK Bank of England Reports on inflation and economic outlook
Canada Wholesale sales announcement
The US is to announce on new home sales
24thof May, Wednesday
European Central Bank President, Mario Draghi speech
The interest rate, policy statement on economic circumstances and monetary policy decision report by the Bank of Canada
The US is to demonstrate announcement on existing home sales
The Federal Reserve report on its policy meeting and economy outlook and policy options
25thof May, Thursday
The UK is to report reviewed data of initial progress and early data on investment into business opportunities.
The US is to report on weekly jobless claims.
26th of May, Friday
The US is to publish durable goods orders and reviewed data on initial 3-month progress and consumer confidence.
Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.