Weekly Economic & Political Timeline - 7/5/2015
This should be a more dramatic week for the Forex markets, due mainly to the Greek referendum on the proposed bailout deal that is taking place today. As the result becomes known it could rock the Euro and spill over into turbulence in other financial markets.
If that blows over, the focus will then shift to the USD, with the FOMC Meeting Minutes giving further insightinto whether the Federal Reserve will really begin raising rates as early as September.
It will also be an important week for the Australian Dollar, which has begun falling sharply following recent negative economic data. The RBA’s statement should indicate whether the RBA feels the fall has further to go.
There is also an important event concerning the British government’s budget, as well as several pieces of Canadian data due.
Euro
The Euro will be at the center of attention at least at the beginning of this week, as today (Sunday) sees theGreek electorate voting in the bailout referendum. The results will probably not become known until Monday. A NO vote could have a serious effect upon the Euro and upon financial markets generally.
U.S. Dollar
Focus with then shift to the U.S. Dollar, beginning with ISM Non-Manufacturing PMI data on Monday, continuing with Trade Balance data on Tuesday, before reaching the really key event of the week on Wednesday with the release of the recent FOMC Meeting Minutes. Thursday will see Unemployment Claims data. On Friday the Chair of the Federal Reserve will be speaking at a public event.
Australian Dollar
On Tuesday the Reserve Bank of Australia will release its Rate Statement and announce the new Cash Rate. Thursday will see Employment Change and Unemployment Rate information.
British Pound
It will be a fairly busy week for the Pound. On Tuesday there will be a release of Manufacturing Production data, followed on Wednesday by a Budget Statement. Thursday will see the release of the MPC Rate Statement and Official Bank Rate.
Canadian Dollar
There are going to be several news releases concerning the Loonie this week. On Monday the Ivey PMI data will be released. Tuesday will see Trade Balance data followed on Wednesday by Building Permits numbers. Finally on Friday there will be releases of Employment Change and Unemployment Rate data.
New Zealand Dollar
Tuesday will see a release of the NZIER Business Confidence survey.
Disclosure: None.