Monday, June 26 Outlook
We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday.
Event: US Durable Goods Order (May)
Date: Monday 26 June 2017 at 12:30 GMT
Markets affected: EUR/USD, GBP /USD
Trending hashtags: #usd
Durable Goods Orders will be released on Monday by the US Census Bureau showing the cost of orders of durable goods received by manufacturers. Durable goods are those that last three or more years (excluding automobiles) and are a good measure for the economic health of the US. April’s orders were revised from -0.7% down to -0.8% and expectations for May are -0.5%. Core orders which are followed closely by the Fed fell by 0.5% last month and for May the expectation is for a 0.4% increase.
Event: New Zealand Trade Balance (May)
Date: Monday 26 June 2017 at 21:00 GMT
Markets affected: NZD/ USD, AUD/NZD
Trending hashtags: #nzd, #trade
The trade balance of a country, also referred to as the balance of payments, shows the difference in value between the nation’s exports and imports. An import heavy nation is reliant on a strong currency to buy goods at a better price, whereas an exporting nation is aiming for a lower foreign exchange to make their goods more competitive on the global markets. Statistics New Zealand, will be releasing the trade balance for New Zealand later on Monday for the month of May. The previous figure was -3.4 billion NZD, year-on-year, so an increase in that may be positive for the NZD.
Event: US GDP (Q1)
Date: Thursday 29 June 2017 at 12:30 GMT
Markets affected: EUR/USD, GBP /USD
Trending hashtags: #usd
The Bureau of Economic Analysis will be releasing the Gross Domestic Product for the US – a vital economic indicator as it shows how fast or slow the economy is growing (or shrinking). The second release of GDP was revised upwardly to 1.2% from a disappointing 0.7% shown on the first release. This time analysts are expecting the 1.2% figure to be confirmed.
Event: Eurozone CPI (June)
Date: Friday 30 June 2017 at 09:00 GMT
Markets affected: EUR/USD, EUR/GBP
Trending hashtags: #eur, #cpi, #inflation
The Consumer Confidence released by the European Commission is a closely followed indicator by the European Central Bank and key in setting monetary policy. It signifies inflation and a high figure shows economic expansion while a low figure shows a downturn and that makes it the number one measure the ECB will use to make changes to their currently soft policies. In May headline CPI grew by 1.4% year-on-year and for this month the expectation is for a small drop to 1.3%. Core inflation fell 1% to 0.9% and the outlook is for a 1% improvement.
https://www.fxstreet.com/economic-calendar
https://www.forexcrunch.com/euro-zone-core-inflation-misses-0-9/
Disclaimer: Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. ...
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