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- Trade war and RBA on focus next week – 04.06. – 08.06.2018
Trade war and RBA on focus next week - 04.06. - 08.06.2018
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Loading...As has already become clear we are in war ... commercial! Last week, Donald Trump decided that Canada, the EU and Mexico would be subject to the import tariffs for aluminum and steel, and the answers and insistence on them were not missing. As the economic calendar is relatively empty from major news, next week the markets are likely to be driven by rumors about the trade, war and the upcoming meeting between Kim Jong Un and Donald Trump on June 12 in Singapore. For many of you, the outcome of this meeting will not be of major importance to the capital markets, but in this situation it is not so! That's why. For Trump, trade with China and the problems around North Korea are directly related. When the American president needed the help of his Chinese counterpart, Xi Jinping and Kim, he spared Beijing of the harsh business he promised during his election campaign. But when Kim talks, the president turned the gun's pistol to his.
In any case, the background of the war and North Korea remains complex and will continue to weigh on the indices next week.
As for the economic calendar, the most exciting weekend is the Reserve Bank of Australia's base interest rate decision. The bank will publish its decision on Tuesday, and the expectation is not to take action to raise interest rates. In the Monetary Policy Report, I also expect the bank to be extremely cautious, highlighting the risks posed by trade conflicts around the US. An increasing burden on risky currencies will also be the probability that the Kim Jong Un-Trump meeting will end with a truce, weakening China's influence on North Korea.
Economic calendar for the week 04.06. - 08.06.2018г.
Monday
04:00 Australia - Selling New Homes
04:30 Australia - Net Operating Profit
04:30 Australia - Retail Sales
10:15 Switzerland - Unemployment rate
11:30 UK - PMI in Construction
17:00 USA - Durable goods orders
17:00 US - Factory orders
Tuesday
02:01 UK - BRC Retail Sales
02:30 Japan - Household expenses
04:30 Australia - Current Account
04:45 China - PMI in Services
07:30 Australia - Basic RBA Rate
07:30 Australia - RBA Report on Monetary Policy
11:30 UK - PMI in Services
12:00 Eurozone - Retail Sales
16:45 USA - PMI in Services
23:30 US - API Oil Stocks
Wednesday
04:30 Australia - GDP
10:15 Switzerland - CPI
15:30 US - Trade Balance
15:30 Canada - Building permits
15:30 Canada - Trade Balance
17:30 US - Crude oil inventories
Thursday
02:01 UK - RICS Residential Price Index
04:30 Australia - Trade Balance
08:45 Switzerland - Unemployment rate
09:00 Germany - Factory orders
10:30 United Kingdom - Halifax Residential Index
12:00 Eurozone - GDP
15:30 USA - Requests for unemployment benefits
Friday
02:50 Japan - GDP
02:50 Japan - Current account
06:00 China - Trade Balance
09:00 Germany - Trade Balance
11:30 UK - Factory production
15:30 Canada - Unemployment Rate
20:00 USA - Number of oil platforms
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