12th June 2017 - 16th June 2017
Early in the day report coming from UK as Inflation Hearings will be released, which The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Services Authority. Moreover, a report coming from US Monthly Budget Statement will be announce that will summarizes the financial activities of federal entities, disbursing officers, and Federal Reserve banks UK will be releasing its Producer Price Index which is the monthly measurement of the price changes of goods produced by UK manufacturers. Generally speaking, a price hike generates higher retail prices for consumers. Additionally, its Consumer Price Index that measures the price movements by the comparison between the retail prices of a representative shopping basket of goods and services. It is a key indicator to measure inflation and changes in purchasing trends. Furthermore, Current Situation & Economic Sentiment of Germany and European Union also will be release later in the day, that measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. During the day, Consumer Price Index of Germany will be release, EU Industrial Production will be shown. On the other hand, the Federal Reserve however will grab the trading spotlight. The Fed will release their Federal Funds Rate, and are expected to raise their key interest rate by a quarter of a point. And if the Fed pushes forth with the expected hike, its Monetary Policy Summary published at the same time will become crucial regarding its outlook. Traders will continue to be challenged via forex and CFD’s this week via speculation, due to the coming pronouncements from the U.S central bank. The day will start with the Retail Sales Report from UK Changes in Retail Sales as an indicator of consumer spending., EU Trade Balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the EUR. The highlight during the day will be the BoE as it will publish its monetary policy summary and minutes of its policy meeting. The conservative party called a snap election to further solidify its majority and instead it is now forced into a partnership with Northern Ireland’s Democratic Unionist party to form a working majority. The Bank of England will have to wait until there is more clarity on Brexit before it can raise rates. Major report on the day will be the Bank of Japan (BOJ), with its monetary policy statement being released at midnight and BOJ Governor Haruhiko Kuroda hosting a press conference. The BOJ is in a similar position to the European Central Bank (ECB) as it could deliver an optimistic assessment on the Japanese economy, but being cautious about inflation losing traction. The market is not forecasting any change to the interest rate or stimulus program at this time. Monday
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