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BoC interest rate and Trade wars will move the markets next week
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Loading...If we have to compare the new week with the one that has passed, then the markets will be full of boredom, which of course does not mean that there will be no good opportunities for a trade. The most significant event traders are expecting next week is the Bank of Canada's interest rate decision. The probability of raising the next week's meeting is estimated at 86.6%, or in other words the increase by 25 basis points is almost certain. To a large extent, market participants have already accumulated this event, but we must bear in mind the unexpected and abrupt decisions typical of Bank Of Canada. What may have a more positive impact on CAD is the rising cost of oil, and rising interest rates will simply reinforce positivism around the Canadian currency.
Even now, the oil and commerce war will move the stock markets next week. Taking this into account, it is good to turn to energy companies or the whole energy sector (buying ETFs). On the other hand, as a sign of flourishing anxiety, the volume of trading on some of the largest stock-marketed funds jumped at a rate that we last observed in 2008. Assets in this class for about $ 3.4tn. managed to change their owners for a very short period of time. The most popular ETFs were emerging markets, with the main cash flow there being outgoing. Protectionism and political risks in emerging market countries have forced investors to withdraw much of their money. An impression over the past few days has also made the massive purchase of inverse ETFs not only in emerging markets but also in the SP500. This clearly shows the moods among Wall Street players despite short-term promotions at the end of the week.
Economic calendar for the week from 09.07 to 13.07.2018.
Monday:
02:50 Japan - Current account
08:45 Switzerland - Unemployment rate
09:00 Germany - Trade Balance
16:10 USA - Speech of Neel Kashkari Member of FOMC
Tuesday:
01:45 New Zealand - Retail sales via credit cards
02:01 UK - BRC Retail sales monitoring
04:30 China - CPI
04:30 Australia - NAB Business confidence
11:30 UK - Production index
12:00 Germany - Economic sentiment
15:15 Canada - Housing Construction
17:00 USA - Jobs JOLTs
Wednesday:
04:30 Australia - Westpac Consumer Moods
15:30 USA - PPI
17:00 Canada - Bank of Canada Base Interest Rate
17:30 US - Inventories
18:15 Canada - Press Conference of BoC
23:30 United States - Member Williams (FOMC)
Thursday:
02:01 UK - RICS Price Index
09:00 Germany - CPI
12:00 Eurozone - Industrial Production
14:30 Eurozone - ECB Monetary Policy Report
15:30 US - CPI
19:15 US - Speech by Harker, member of FOMC
21:00 USA - Federal Budget Balance
Friday:
03:00 United States - Kashkari Speech by FOMC
06:00 China - Trade Balance
07:30 Japan - Industrial Production
14:00 UK - Speech by Cunliffe, BoE member
15:30 USA - Export Index
19:30 USA - Speech by Bostic, member of FOMC
20:00 USA - Baker Hughes oil rig count
Trader Petar Milanov Read more:
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