A Week in the Market: The Dollar Is Strong but Everything Depends on the Fed (5 - 9 June)
This week will not be rich in statistics, but this does not mean that investors will be bored. The post A Week in the Market: The Dollar Is Strong but Everything Depends on the Fed (5 - 9 June) appeared first at R Blog - RoboForex.
EUR: need for support
The Eurozone is to publish a lot of statistics, including the Sentix investor confidence index and the final figures for the purchasing managers index in the manufacturing and non-manufacturing sectors. Retail sales data and another GDP estimate for the first quarter will also be released. The ECB's expected future hike in the interest rate can support the EUR.
JPY: attention to spending
Japan will release data on its GDP for the beginning of the year and the Economy Watchers Survey Index. In addition, an important report on household spending will be published, which will help assess what is happening with spending and incomes in the country. Meanwhile, the JPY rate is weakening and returning to depreciation.
AUD: there is a balance
The Reserve Bank of Australia will hold a meeting to decide on the interest rate. The indicator is expected to remain unchanged at 3.85% per annum, which is a neutral signal for the AUD.
USD: strong position
Business activity statistics could bring pleasant surprises. In addition, consumer credit data will be presented. The USD remains strong, but the Fed’s signals can decrease the rate.
CAD: everything depends on the CB
The Bank of Canada will decide on the cost of lending at its next meeting. There is a chance that the key interest rate will remain at the level of 4.5% per annum, which is neutral news for the CAD rate, but further reactions will depend on the regulator’s comments.
The post A Week in the Market: The Dollar Is Strong but Everything Depends on the Fed (5 - 9 June) appeared first at R Blog - RoboForex.
