This week is set to be a busy one for forex traders, with several key events on the economic calendar that could potentially impact currency markets. Here are some of the upcoming events to watch out for:
1. Reserve Bank of Australia (RBA) Interest Rate Decision: The RBA is set to announce its latest interest rate decision on Tuesday. While no change is expected, traders will be closely watching the accompanying statement for any hints on future monetary policy moves.
2. Bank of England (BoE) Interest Rate Decision: The BoE will also be announcing its interest rate decision on Thursday. With inflation on the rise in the UK, there is speculation that the central bank could signal a more hawkish stance, which could potentially boost the British pound.
3. Bank of Japan (BoJ) Summary of Opinions: The BoJ will release its Summary of Opinions from its latest policy meeting on Friday. Traders will be looking for any insights into the central bank’s thinking on monetary policy and the Japanese economy.
4. Canada Jobs Report: On Friday, Canada will release its latest employment data. With the Canadian economy showing signs of recovery, a strong jobs report could provide a boost to the Canadian dollar.
5. UK Gross Domestic Product (GDP) Data: Also on Friday, the UK will release its GDP data for the second quarter. Traders will be watching closely to see how the UK economy is faring post-Brexit and post-pandemic.
Overall, this week promises to be an eventful one for forex traders, with plenty of potential market-moving events on the horizon. Stay tuned to Forexlive for all the latest updates and analysis on these key events.
The Impact of Fedspeak and FOMC Minutes on Market Sentiment for the Upcoming Week
As investors and traders eagerly await the release of the Federal Reserve’s FOMC minutes and Fedspeak for the upcoming week,...