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It’s pretty much a quiet week ahead in the U.S markets with no big events to move the market. There are no speeches or central bank decisions. Instead the focus will turn to the Canadian dollar.
Traders will have to wait until Wednesday to participate in an economic event. The consumer price index will be the main focus. This could provide direction to the U.S dollar against a basket of currencies.
On Thursday, the initial jobless claims will be the key news in the markets. The last week’s data showed a good decline below 800,000 and slowly showing a recovery in the U.S labor market.
Friday, the market will focus on the Michigan consumer sentiment index to provide the market with direction.
Despite no economic events for the U.S markets, investors will continue to monitor the Bond Yields’ movement to ask for market direction and if the bond market continues to rally. This will give the U.S Dollar index much-needed demand and thereby pushing the stocks market further down.
It’s fairly a busy week ahead for the Euro markets. The economic calendar features the GDP data, ECB interest rate decision, and ECB conference to influence the Euro markets.
On Tuesday, Euro traders will wait for the release of Eurozone GDP data that will impact the Euro markets.
Wednesday could prove a volatile day for the Euro markets. Traders will wait to hear interest rate decisions, and this will be followed by the ECB monetary policy. The conference will have significant volatility in the markets. Any remarks from the ECB will influence the Euro currency and equities.
It’s relatively a quiet week ahead for the Pound. Only the BoE speech in the economic calendar expected to move the markets.
On Monday, the markets will look for influence from the BoE governor’s speech. It might have a good impact on the long-term bullish Pound against the U.S Dollar.
The Pounds will look for influence from the ECB headlines and Eurozone news.
It’s a very busy week ahead for the Canadian Dollar. The economic calendar is filled with influential market events, interest rates, and unemployment rates scheduled for the week ahead.
Loonie traders will have to wait until Wednesday for interest rates decisions and rate statements that could provide market volatility. The rate statement will be a key factor in the markets.
On Friday, traders will wait for the unemployment data to give more insight into Canada’s labor market conditions. This will be key to the Loonie movement in the market. The net employment change figures will be key to the market also.
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