Weekly Outlook 24th - 28th of July, 2017

2017-07-23

Weekly Outlook 24th – 28thof July 2017

Maximusfx.com Weekly Outlook – The US dollar declined to over a year lowest against a list of major currency pairs on last Friday, upon concerns in US political vagueness.

The Euro currency pair went up to its peak level in almost 2 years against the dollar, with EUR/USD catching peaks of 1.1683, the highest since September of 2015.  The Euro was driven to the peak due to the belief that ECB is approaching to tapering its asset-purchasing program. European Central Bank President Mario Draghi illustrated on last Thursday that the bank will debate about trimming period in bond-purchase program in the autumn.

Accordingly, political uncertainty and chaos in Washington caused the dollar decline dramatically. Based on Bloomberg reports on last Thursday, the concerns in connecting bridge between Russia and President Donald Trump`s campaign on last year`s election is moving towards his business.

Based on demonstration of current economic circumstance of the country, there are dilemmas over the Fed`s project on a third rate rise this year too, hence the dollar went down dramatically. Following summit of the Fed will be held on Wednesday and is broadly believed to stick to the policy stable.

US dollar against Japanese Yen declined at 111.12 then drop off to 111.02 previously and meanwhile the sterling currency pair experienced with a progress against US dollar to 0.15% to 1.2993 last Friday.  

Investors in the financial market turn their attention to a greater chance of a forthcoming illustration of Wednesday`s Fed Summit and beforehand of data on Friday, that will provide initial outlook of 2nd quarter progress of the country economy.  

In the meantime, recent economic illustrations show that survey data release on Monday will contribute to finalize the power of the enduring regain in the euro zone. The United Kingdom is going to report on following quarter progress on Wednesday.

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

24th of July, Monday

The Euro zone is to illustrate survey data on business activity.

Canada is to indicate on wholesale trade.

The US is to demonstrate data on existing home sales.

25th of July, Tuesday

German is to show reports on business environment

The US is to announce data on consumer confidence

26th of July, Wednesday

Australia is to announce figures on consumer price inflation

The UK is to report on initial data on 2nd quarter economic progress

The US is to indicate data on new home sales

The Federal Reserve is to illustrate economic conditions and data influencing on monetary policy decision as well as interest rate.

27th of July, Thursday

The US is to announce data on unemployed claims durable properties orders.

28th of July, Friday

Germany is to indicate initial inflation data

Canada is to announce economic progress monthly basis

The US is to illustrate data on second quarter development of the economy.

 

Prepared by Maximusfx Senior Analyst – Z. Nuriddinov.