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- What to expect next week 19.06.2017 – 23.06.2017
What to expect next week 19.06.2017 - 23.06.2017
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Loading...Last week most US stocks declined, the dollar weakened, and government bond yields also declined after poor housing data, a decline in consumer confidence, and signs that the growth rate of the US economy may be slower than expected. Oil has plummeted and rebounded a bit on Friday, despite the increase in the number of oil rigs in USA.
The Federal Reserve raised interest rates by 0.25% to 1.25%. Technological stocks declined as the biggest players in the sector suffered serious losses. Nasdaq moved down for a second consecutive week. Shares in the energy and manufacturing sectors have risen. The yen weakened as the Japanese central bank left interest rates unchanged. Oil is about to close down for a fourth consecutive week.
The important news we will be watching next week:
Monday:
01:00 New Zealand - Westpac Consumer Sentiment
02:30 Australia - RBA Governor Lowe Speaks
02:50 Japan - Adjusted Trade Balance, Import, Export
15:00 USA - FOMC Member Dudley Speaks
Tuesday:
04:30 Australia - House Price Index and RBA Meeting Minutes
09:00 Germany - PPI
09:30 Switzerland - SNB Chairman Thomas Jordan speaks
11:00 Europe - Current account
11:45 Switzerland - SNB Chairman Thomas Jordan speaks
15:00 USA - FOMC Member Stanley Fischer Speaks
15:30 USA - Current account
15:30 Canada - Wholesale Sales
22:00 USA - FOMC Member Kaplan Speaks
Wednesday:
02:50 Japan - Monetary Policy Meeting Minutes
17:00 USA - Existing Home Sales
17:30 USA - Crude Oil Inventories
Thursday:
00:00 New Zealand - RBNZ Interest Rate Decision
02:50 Japan - Foreign Bonds Buying
11:00 Europe - ECB Economic Bulletin
15:30 Canada - Core Retail Sales
16:00 USA - House Price Index
16:45 USA - Consumer Confidence
17:00 Europe - Consumer Confidence
Friday:
03:30 Japan - Manufacturing PMI
10:00 France - Manufacturing PMI
10:30 Germany - Manufacturing PMI
11:00 Europe - Manufacturing PMI
15:30 Canada - CPI
16:45 USA - Manufacturing PMI
17:00 USA - New home sales
What to expect next week?
USD - The US dollar rose after the Fed raised the interest rate by 0.25% to 1.25%, but during the last day of trading lost some of its profits. The slowdown in economic growth and lower consumer confidence have negatively affected the greenback. For now we are rather short on USD/JPY and EUR/USD
GBP - Despite the fall in the British currency in recent weeks, pounds have recovered some of its losses after BoE left interest rates unchanged. On Thursday, the GBP/JPY price approached the diagonal trend line that played a role of resistance, indicating that the downward trend could reverse, but on Friday the price retraced and will probably close underneath it, so the shorts are still more likely.
Crude Oil - The prices are likely to continue falling due to a steady increase in US production. OPEC's attempts to offset quantities by reducing yields by its members were unsuccessful again. The fall in prices is likely to continue next week as well. We remain short.
Jr Trader Ivan Ivanov
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