Last week, trades on the main currency pairs were very active. However, a unidirectional trend was not observed. The US currency has kept the current levels. The dollar index (#DX) closed the week with a slight increase (+0.14%). At the moment, the demand for the US currency has grown significantly. On Saturday, the US Senate approved a bill draft on the tax reform.
On Monday, the news feed will be fairly calm. We advise you to pay attention to the following economic reports:
– The index of business activity in the construction sector in the UK at 11:30 (GMT+2:00);
– The volume of industrial orders in the US at 17:00 (GMT+2:00).
On Tuesday, the news background will be very eventful. In the Asian trading session, the Reserve Bank of Australia will meet at 05:30 (GMT+2:00). Experts expect that the regulator will leave the interest rate at the previous level of 1.50%.
At 11:30 (GMT+2:00) there will be data on business activity in the services sector of Great Britain.
At 17:00 (GMT+2:00), the index of business activity in the non-manufacturing sector of the US from the ISM will be published.
On Wednesday, investors’ attention will be focused on the following statistics:
– A report on Australia’s GDP for the third quarter at 02:30 (GMT+2:00);
– A preliminary statistics on the labor market in the US from ADP at 15:15 (GMT+2:00);
– The Bank of Canada press conference at 17:00 (GMT+2:00). It is expected that the regulator will leave the interest rate unchanged at 1.00%.
– The US crude oil inventories at 17:30 (GMT+2:00).
On Thursday, the Australian Bureau of Statistics will publish data on the country’s trade balance at 02:30 (GMT+2:00).
At 17:00 (GMT+2:00) we expect the index of business activity of Canada from Ivey.
We also recommend you to pay attention to the speech by the ECB head Mario Draghi.
On Friday, the attention will be focused on the report on the labor market in the US at 15:30 (GMT+2:00).
Investors will also look for the following statistics:
– A report on the GDP of Japan at 01:50 (GMT+2:00);
– The production in the manufacturing industry in the UK at 11:30 (GMT+2:00);
– The data on the UK trade balance at 11:30 (GMT+2:00);
– Indices of consumers expectations and sentiments from the University of Michigan at 17:00 (GMT+2:00).
Source: JustForex Broker
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