mask Week Ahead | Dollar Drifts Higher as Tension in the Gulf Builds

22/ 07/ 2019

Week Ahead | Dollar Drifts Higher as Tension in the Gulf Builds

22nd July 2019 – 26th July 2019

Monday 

• JPY Bank of Japan Governor Kurudos Speech

Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo. Mr Kuroda exercises general control over the Bank's business. He is in charge of the Internal Auditors' Office.

 

Tuesday

• EUR ECB Bank Lending Survey

• GBP FPC Meeting Minutes

The bank lending survey (BLS) for the euro area was launched in 2003. Its main objective is to enhance the Eurosystem’s knowledge of financing conditions in the euro area. The BLS provides input to the ECB Governing Council’s assessment of monetary and economic developments, on which it bases its monetary policy decisions.

Bank of England Financial Policy Committee Minutes are a detailed record of the FPC's most recent meeting. The report, which is released quarterly, provides in-depth insights into the financial conditions and decisions towards financial stability.

 

Wednesday

• EUR Markit Manufacturing PMI

• USD Markit Manufacturing PMI, New Home Sales

The Manufacturing Purchasing Managers Index (PMI) released by the Markit economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. 

The number of New Home Sales released by the US Census Bureau is an important measure of housing market conditions. House buyers spend money on furnishing and financing their homes so as a result the demand for goods, services and the employees is stimulated.

 

Thursday

• EUR IFO Business Climate, ECB Interest Rate Decision, Monetary Policy Statement and Press Conference

• USD Jobless Claim Reports

ECB Interest Rate Decision is announced by the European Central Bank. Usually if the ECB is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the EUR. 

The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy.

 

Friday

• USD Gross Domestic Products, Personal Consumptions and Expenditures

The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing.