5th June 2017 - 9th June 2017
Early morning Europe will release the Market Services PMI & Market PMI Composite (MAY) report. It captures an overview of the condition of sales and employment. It is worth noting that the European service sector does not influence, either positively or negatively, the GDP as much as the PMI manufacturing does. The PMI monthly Composite Reports on Manufacturing and Services for Europe and USA, released by Market Economics, are based on a large number of business executives in private sector. Manufacturing and services companies. Data is usually released on the third working day of each month. Important day for Australia as RBA will release their Rate decision and rate statement. RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. Next up will be CAD Ivey Purchasing Managers Index. The Ivey PMI released by the Richard Ivey School of Business captures business conditions in Canada. The Ivey PMI is an important indicator of business conditions and the overall economic condition in Canada. This is an important indicator of business conditions and the overall economic condition in Canada. The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish). Busy day for forex market The U.K. Parliamentary Election released by the UK Parliament elects 650 members to the United Kingdom's Lower House of Parliament. It is a significant event to determine the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth in the U.K. The election might affect the GBP volatility. This will be followed by Deposit Rate Decision, Interest Rate Decision by ECB after which Mario Draghi & co is expected to present its Monetary Policy Statement & Press Conference. Busy end to an eventful week where Euro zone and UK is expected create volatility in the markets. Early morning will be GBP Consumer Inflation Expectations released by BOE, is a percentage that consumers expect the price of goods and services to change during the next 12 months. Monday
Tuesday
Wednesday
Thursday
Friday
