On July 14, at 14:00 GMT, the Bank of Canada made a rate statement and published its Monetary Policy Report of July 2021. In general, the bank kept its interest rate unchanged. Although, the central bank adjusted its quantitative easing program. Quoting the statement: "The Bank of Canada today held its target for the overnight rate at the effective lower bound
On July 14, at 02:00 GMT, the Reserve Bank of New Zealand made a Rate Statement. In general, the bank once again kept its interest rate at 0.25%. However, the bank revealed in its statement that the bank would reduce monetary stimulus. Quoting the statement: "The Monetary Policy Committee agreed to reduce the current stimulatory level of monetary settings in order
On Wednesday, at 12:30 GMT, the US Dollar dropped due to higher than expected Producer Price Indices being released. For example, the EUR/USD surged almost 20 base points on the data release. The PPI came in at 1.00% instead of the market consensus 0.60%. Meanwhile, core PPI, which excludes food and energy prices, was at 1.00% instead of forecast
The week is bound to be busy for macroeconomic data releases and central bank announcements. On Tuesday, the US Consumer Price Index at 12:30 GMT is expected to impact all USD traded assets and currency pairs. On Wednesday, at 02:00 GMT the Reserve Bank of New Zealand is set to publish it Official Cash Rate and release a Rate Statement. At 06:00
On July 6, at 04:30 GMT, the Reserve Bank of Australia published its cash rate and rate statement. In general, the bank left its cash rate unchanged. However, the AUD declined, as the bank revealed that it does not expect to change its interest rate until 2024. Quoting the statement: "The Board remains committed to maintaining highly supportive monetary conditions to
On Friday, at 12:30 GMT, the US Dollar declined in value due to the publication of US employment data. The EUR/USD surged by 27 base points in the five minutes following the release. The data release consisted of three data sets. The Average Hourly Earnings change, the Non-Farm Employment Change and the Unemployment Rate were released. The Average Hourly Earnings changed
The week's notable events will start with the Reserve Bank of Australia publishing its Official Cash Rate at 04:30 GMT on Tuesday. Expect large moves on all AUD pairs during the announcement. Also on Tuesday, the US ISM Services Purchasing Managers Index release at 14:00 GMT could cause a minor move on USD pairs. However, note that during most times the
On June 24, at 11:00 GMT, the Bank of England published a Monetary Policy Summary. The bank kept its Official Bank Rate at 0.10% and the Asset Purchase Facility remained at 895 billion GBP. Moreover, the Monetary Policy Committee voted, as the market had expected. Despite it, some parts of the statement caused a GBP sell off. The selloff could
The most notable event of the week will be at the end of it. Meanwhile, take into account other data releases that are scheduled to occur throughout the week. On Friday, at 12:30 GMT, all USD traded assets and currency pairs are bound to move due to the monthly US employment data. The data release will consist of US Average Hourly
The week's notable macroeconomic events will start with a major and busy day. That day will be Wednesday. On Wednesday, starting from 07:15 GMT up to 08:00 GMT, the EUR most likely will react to the publication of the French, German and common Eurozone Markit Manufacturing and Services Purchasing Managers Indices. Later on, at 08:30 GMT the UK Markit
On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. Quoting the statement: "Progress
On June 17, the Swiss National Bank kept its monetary policy unchanged. In general, the markets expected the bank's decision and the Swiss Franc did not react to the news. Quoting the statement: "The SNB is maintaining its expansionary monetary policy with a view to ensuring price stability and providing ongoing support to the Swiss economy in its recovery from the
This week, the top event will be the US Federal Reserve Federal Open Market Committee's Statement and the announcement of the Federal Funds Rate on Wednesday at 18:00 GMT. Up to that event, there will be other notable events. On Tuesday, the US Retail Sales and Producer Price Index data sets are scheduled to be published at 12:30 GMT. On Wednesday,
On Thursday, at 11:45 GMT, the European Central Bank issued its Monetary Policy Statement. However, the market didn't react: the EUR/USD exchange rate declined only by 9 base points or 0.07%. The official data release:ECB Monetary Policy Statement According to the official release, the European policymakers voted to maintain the Main Refinancing Rate unchanged at 0.00%. Also, according to the official
At mid-day on Wednesday, at 14:00 GMT, the value of the Canadian Dollar plummeted due to the release of the Bank of Canada Rate Statement. The USD/CAD exchange rate surged by 39 base points or 0.32%. The official data release:BOC Rate Statement According to the official release, the Canadian policymakers voted to maintain the Overnight Rate unchanged at 0.25%. Also, according
At mid-day on Friday, at 12:30 GMT, the value of the US Dollar plummeted due to the release of the US monthly employment data. At the same time, the Canadian Dollar also lost value due to worse than expected employment numbers. The US data release consisted of three data sets, which each showed different results. The US Average Hourly Earnings increased
At mid-day on Friday, at 12:30 GMT, the value of the US Dollar plummeted due to the release of the US monthly employment data. The EUR/USD surged by 60 base points or 0.50%. The US data release consisted of three data sets, which each showed different results. The US Average Hourly Earnings increased by 0.5% instead of the forecast 0.2%.
There are two central bank rate announcements set to occur during the week. In addition, at two times, volatility could increase due to data being released. On Wednesday, the top mover of all events, the Bank of Canada Rate Statement is set to to occur on Wednesday at 14:00 GMT. Last time, the USD/CAD moved 104.7 pips on the announcement. Later
On Thursday, at 08:30 GMT the GBP/USD suddenly moved upwards by 16 base points. The move started, as the Markit UK Final Services Purchasing Managers Index was released. The data came in at 62.9 instead of the forecast 61.8.
On June 1, the Reserve Bank of Australia made a Rate Statement. The bank lefts it's Cash Rate at 0.10%. However, the main news were at the end of the statement, as the bank revealed that it would continue to keep borrowing costs low until the middle of 2024. Quoting the statement: "The Board is committed to maintaining highly supportive monetary
The weeks notable events are set to start on Tuesday morning, as the Reserve Bank of Australia is set to publish its Cash Rate at 04:30 GMT. The Australian Dollar is bound to adjust to the news. On the same day, the Canadian GDP release at 12:30 GMT is set to impact the value of the Canadian Dollar. On Thursday, expect the
On Wednesday, at 02:00 GMT the Reserve Bank of New Zealand released its Monetary Policy Statement and Rate Statement. The New Zealand policymakers voted to maintain the ongoing monetary policy unchanged and keep the Official Cash Rate at 0.25%. In the meantime, the Bank announced that a rate hike could occur in late 2022. Full Official Release RBNZ Monetary Policy Statement The
On Friday, at 06:00 GMT the United Kingdom Retail Sales data was released. The country's retail sales had increased by 9.2% instead of the market forecast 4.5%. Due to this reason, the Pound adjusted its value to the upside. In regards to the GBP/USD the rate adjusted up by 13 pips. However, the rate encountered the resistance of the 1.4200 round
On Wednesday, the Reserve Bank of New Zealand is set to make a rate statement at 02:00 GMT. This event has moved the NZD/USD currency exchange rate from 18.0 to 51.3 base points. On the same day, the US Energy Information Administration would publish its weekly Crude Oil Inventories at 14:30 GMT. At 12:30 GMT on Thursday, the US Preliminary GDP