22nd May 2017 - 26th May 2017
A quiet start to the week where only two mid-tier reports will come from Japan and USA. Adjusted Merchandise Trade Balance from Japan measures the balance between the imports & exports. Looking at US, Chicago FED National Activity Index will be released which is used to measure the overall economic activity in the US. The busiest day of the week as major reports will come out from Euro Zone, UK and USA. First up will be GDP figures and Markit Manufacturing & Services P.M.I from Euro Zone. The latter will capture the business conditions as well as the sales and employment. By midday focus shifts to UK where inflation Report Hearings takes place. Later half of the day will be governed by US reports where it will focus on the Markit Manufacturing PMI, Markit Services PMI & New Homes Sales. The day will be packed with major data coming in from all over while Markets will be keeping a close eye on what Former FBI Director James Comey has to when he testifies at capitol hill for the first time after he was fired by Trump. Looking at first, we have Governor Kuroda’s Speech from the BOJ. This will be followed by the interest rate decision from Canada which will evaluate the current situation of the economic activity and make a decision accordingly. Then the focus shifts to the major event of the day, James Comey’s Testimony. We have witnessed how the scandals have affected the US dollar. If Comey clearly says that Trump tried to obstruct justice, the dollar could fall. If he denies it or plays Trump’s comments down, the dollar could rise. They day will come to a halt with the FOMC Minutes which will review the economic and financial conditions and make a decision on their monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. The day will kick off with the OPEC Meeting which is meant to coordinate and unify the petroleum policies of its Member Countries and ensure the stability of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. Then the focus shifts to Gross Domestic Product from UK which measures the total value of all goods and services produced within the UK itself as it can be used as a measure of the UK Economic Activity. The Day will end with Initial Jobless Claims from US which is a measure of the number of people filing first-time claims for state unemployment insurance. The week will conclude very calmly as there will be very few reports coming out from US. The Durable Goods Orders & Goods Order Ex Transportation will be the main events of the day while Personal Consumption Expenditures Prices will also move the markets slightly. Durable goods measure the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances while the Goods Order Ex Transportation will be excluding the transport sector.Monday
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