A Week in the Market (26.07 – 01.08): the Unemployment Data and Speeches by Heads of Global Central Banks
This week’s key events that may rattle up financial markets are expected to come from the USA. Reports on unemployment, as well as speeches by heads of global Central Banks, will also hit the stage. Perhaps, they can make markets start moving more actively.
USD: the unemployment claims report and the Fed rate are a primary focus
On Thursday, the USA is scheduled to report on the Unemployment Claims, as well as the GDP for the second quarter of 2021. As a rule, these reports have a strong influence on quotes of the USD and metals.
This month’s last trading session is anticipated to be very “hot”. Market players are expecting an American report on the Durable Goods Orders for June, while the US Federal Reserve is going to announce its rate decision. Taken together, all these factors may play a dirty trick on the “greenback”. If the actual data significantly differs from market expectations. However, investors still believe in the USD.
EUR: unemployment data is top-priority
On July 29th, Germany will report on the Unemployment Change and the Unemployment Rate for July. If the data is better than expected, it may help the Euro get stronger.
AUD: the week is crowded with indices
This week, Australia will report on the Consumer Price Index and Producer Price Index, which are expected to be better than the month before. If it’s true, the indices will provide the Aussie with much support.
JPY: the Governor of the Bank of Japan will define the direction
For the Yen, this week’s key highlight will be the speech delivered by the Governor of the Bank of Japan Haruhiko Kuroda. As a rule, such speeches are a thing where investors always look for any hints at the regulator’s future monetary policy. If Kuroda’s speech is positive, the Japanese Yen may strengthen.
GBP: what will happen after Vlieghe’s speech?
The British Pound is in anticipation of a speech by the Member of the Monetary Policy Committee Gertjan Vlieghe. Considering his previous speeches, market players may assume that Vlieghe may hint at the British financial sector development in the nearest future.