mask Week Ahead | Can the Dollar break its Shackles?

30/ 07/ 2017

Week Ahead | Can the Dollar break its Shackles?

31st July 2017 - 4th August 2017

Monday 

  • EUR Unemployment Rate & Consumer Price Index
  • GBP Inflation Report Hearings
  • USD Pending Home Sales & Chicago Purchasing Managers Index

The day will start off important data from euro zone. First up will Unemployment rate of the Eurozone. This will be followed by Consumer Price index which is an indicator which measure changes in purchasing trends and inflation in the Euro Zone. At the same time UK will release will their Inflation Report

The Latter brings reports from USA which concentrates on Pending Home Sales and Chicago Purchasing Managers Index. 

Tuesday

  • AUD RBA Interest Rate Decision & Rate Statement
  • EUR Gross Domestic Product, Markit Manufacturing PMI & Unemployment Rate
  • USD ISM Manufacturing PMI, Markit Manufacturing PMI, Core Personal Consumption Expenditure - Price Index & Personal Income 

Very important day interms data, to start of the day with, Interest Rate Decision is to be announced by the Reserve Bank of Australia. Followed up with RBA Rate Statement regarding this interest rate are made by the Reserve Bank Board, and are explained in a media release.

Eurozone will release their GDP report together with their Market Manufacturing PMI which captures business conditions in the manufacturing sector as a whole. And also Germany will also release their Market manufacturing PMI along with their Unemployment rate which will have an impact for the EURO currency as a whole

By evening US will release majority of reports, their ISM Manufacturing PMI, MArkit Manufacturing PMI, Core Personal Consumption Expenditure - Price Index (MoM) & Personal Income which will have an impact on the USD currency as a whole.

Wednesday 

  • EUR Non-monetary policy's ECB meeting & Producer Price Index (MoM)

A quite day in terms of data. Only major data from Euro zone The ECB announced on july that the Governing Council meetings dedicated to monetary policy will change to a new six-week cycle, from January 2015. Non-monetary policy meetings will continue to be held at least once a month.

Thursday 

  • EUR Markit PMI Composite & Markit Services PMI 
  • GBP BOE Interest Rate Decision, BOE Minutes & BOE's Governor Carney Speech  
  • USD Initial Jobless Claims, ISM Non-Manufacturing PMI & Factory Orders

The day will start with Markit PMI Composite & Markit Services PMI  from euro zone which measures the Manufacturing and Services & the Economic situation

From UK, the most importantly their Interest rate decision will be followed by  OE Governor Carney’s Speech.

The day will end with important data from US, Initial Jobless Claims , ISM Non-Manufacturing PMI & Factory Orders which will have an big impact on the dollar.

Friday 

  • AUD RBA Monetary Policy Statement 
  • USD Nonfarm Payrolls, Unemployment Rate & Trade Balance 

The last day of the week brings us reports from Australia and important data from The RBA Monetary Policy Statement released by the Reserve Bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. 

From US. The most important data, which is their Nonfarm Payroll data. Nonfarm payrolls released by the US Department of Labor presents the number of new jobs created during the previous month, in all non-agricultural business. Followed up with unemployment Rate which is a percentage that surges from dividing the number of unemployed workers by the total civilian labor force. And Trade Balance released by the Bureau of Economic Analysis and the US Censys Bureau is a balance between exports and imports of total goods and services.