Forex Market overview

Forex Market overview – Last week, the US dollar significantly weakened against the major currencies. The dollar index (#DX) declined by more than 1%. The United States published a series of mixed economic reports. The ECB plans to consider reducing the quantitative easing program.

On Monday, the news feed will be fairly calm. At 12:00 (GMT+2:00) the data on the trade balance of the Eurozone will appear.
The US financial markets will be closed due to the holiday.

On Tuesday, investors’ attention will be focused on the report on inflation in the UK at 11:30 (GMT+2:00).
At 23:30 (GMT+2:00) we expect statistics on crude oil inventories in the US from the American Petroleum Institute.

On Wednesday, a key event will be the meeting of the Bank of Canada at 17:00 (GMT+2:00). Experts expect that the regulator will raise the key interest rate by 25 basis points to 1.25%.
Important economic reports:
– Statistics on inflation in the Eurozone at 12:00 (GMT+2:00);
– The volume of industrial production in the US at 16:15 (GMT+2:00);
– The Fed’s “Beige Book” at 21:00 (GMT+2:00).
We also recommend you to pay attention to the speeches of the FOMC representatives.

On Thursday, the attention will be focused on the following statistics:
– A report on the labor market in Australia at 02:30 (GMT+2:00);
– Data on the GDP of China at 04:00 (GMT+2:00);
– China’s industrial production at 04:00 (GMT+2:00);
– Statistics on the real estate market in the US at 15:30 (GMT+2:00);
– The index of production activity from the Federal Reserve Bank of Philadelphia at 15:30 (GMT+2:00);
– Crude oil inventories in the US at 18:00 (GMT+2:00).

On Friday, the National Statistical Office of Great Britain will publish a report on retail sales at 11:30 (GMT+2:00).
At 17:00 (GMT+2:00) we expect indices of consumers’ expectations and sentiments from the University of Michigan.

Source: JustForex Broker