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
On May 19, the US Federal Reserve Federal Open Market Committee published its April 27-28 meeting's Meeting Minutes. The central bank released only the protocols of the meeting that described what was discussed and how the decisions previously announced were made. Note that the changes in monetary policy are already in effect. However, sometimes the Meeting Minutes reveal that the monetary
On Friday, at 12:30 GMT, the US Retail Sales and US Core Retail Sales data were published. The US Retail Sales came in at 0.0% instead of the market forecast 1.0%. The US Core Retail Sales were at -0.8% instead of 0.5%. The data caused volatility in the value of the US Dollar. For example, the EUR/USD fluctuated in a
During the week, notable events are set to start on Wednesday. On that day, the UK and Canadian Consumer Price Indices are set to be released. In addition, expect a reaction to the US Crude Oil Inventories. Above all, the US Federal Reserve FOMC Meeting Minutes are set to be published on that day. Another day to watch data releases on
On Wednesday, the US Bureau of Labor Statistics published the monthly Consumer Price Index and Core Consumer Price Index numbers. Both numbers came in higher than the market forecast. Namely, CPI was 0.8% instead of 0.2% and Core CPI was at 0.9% instead of 0.3%. The EUR/USD reacted to the news by dropping 50 base points or 0.41%. However, in
On Wednesday, at 06:00 GMT, the UK Preliminary GDP data was released. The results came in at -1.5% instead of the market forecast -1.6%. Due to this reason, the value of the British Pound adjusted to the upside. On the GBP/USD this resulted in a 13 base point move up.
At 12:30 GMT on Friday, the USD/CAD currency exchange rate increased volatility to 40 pips during a period of ten minutes. The move was caused by US and Canadian monthly employment data. In general, the first move down was caused by a sell off of the USD that was caused worse than forecast employment data. Afterwards, an immediate recovery was
On Friday, at 12:30 GMT, the release of US Employment data sets caused a surge of the EUR/USD of 71 base points. In addition, an all-out decline of the US Dollar was taking place. The drop was attributed to the Non-Farm Employment Change being at 266K instead of the market forecast 990K. In addition, previous month's data was revised downwards
Notable events are set to start on Wednesday. On Wednesday, at 06:00 GMT a minor reaction could happen on all GBP assets, as the UK Preliminary GDP is scheduled to be published. On the same day, at 12:30 GMT the US Consumer Price Index and US Core Consumer Price Index are set to be published. Later on, at 14:30 GMT, the
On May 6, the Bank of England published its Monetary Policy Summary and minutes of the Monetary Policy Committee meeting ending on 5 May 2021. The bank revealed that it would keep its Asset Purchase Facility unchanged at 895 billion GBP and the Official Bank Rate would remain unchanged at 0.10. Quoting the statement's key points: "The Bank of England's