Previously on the news: Due to a bank holiday on Friday, U.S Non Farm Payroll was released on a Thursday. Job numbers rose to 4800K Vs 3037K. These numbers were not necessarily about new jobs, but more about existing employees returning back as lock down is slowly easing. Earnings dropped to -1.2% Vs expected -0.8%. Unemployment rate dropped to 11.1% Vs 12.4%.
On the 7th, Reserve Bank of Australia(RBA) will be deciding on their Interest Rates. They are expected to maintain the current rate of 0.25%. As usual, they will also issue their Monetary Policy Statement, which focuses more on the future. We will be watching the tone of the statement to see if it is hawkish or dovish.
Should you wish to subscribe to this blog for weekly economic news and practical Forex tips, you can subscribe by entering your email address on the subscribe tab on the sidebar, go to your email for a confirmation link (it could be in the spam/ junk folder) click on it to confirm your subscription. The App is also available on Google Play Store . Weekly tips on trading psychology are posted only on the app, DOWNLOAD it today. (App Store is coming soon). In case you missed my previous post on how to avoid Margin call, check it out Here. Thank you for stopping by. Below is the weekly economic calendar and happy trading.
Bank Of Japan (BOJ) will issue their monetary policy statement on Wednesday. U.S Retail Sales stats are expected to rise to 7.4% versus -16.4% expected. Fed Chair Jerome Powell is also due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC. On Thursday, Swiss National Bank and Bank Of England (BOE) will decide on their Interest Rates and issue their Monetary Policy statements. Below is the weekly economic calendar.
We are kicking off our week with a speech from the European Central Bank (ECB) President Lagarde. She is due to testify at a virtual hearing before the European Parliament Economic and Monetary Affairs Committee, via satellite.
On Wednesday, Federal Reserve Bank (FED) is expected to maintain their Interest Rates at a current rate of <0.25%, followed by FOMC press conference. Below is the weekly economic calendar.
Again this week, Central banks are in focus. BOC, ECB, RNBZ and Fed. It is Covid-19 time, the Central Banks are busy. Below is the weekly economic news to watch this week.
Highlights from the previous week: Australia Reserve Bank (AUD) maintained their Interest Rates at the current rate of 0.25% as per expectation and the board maintained that they will not be increasing the cash rate targets until progress is being made towards full employment. Also their trade balance reached 10.60B vs 6.40B expected. This was good for AUD because it simply means that more goods and services were exported than imported.
Bank Of England (BOE) also maintained their Interest Rates at the current rate of 0.10%. The board felt that the current rate is appropriate but they will monitor closely and act accordingly. In the U.S, as expected, the jobless claims were higher, this is the case with most countries due to Covid-19, the labour market is affected badly and there are more unemployment insurances claims. To close off the week, there was Non-farm payrolls release which printed the lowest numbers with the improved earnings. April job stats were really shocking. But again, due to Covid-19 most countries are reporting crazy stats. Below is our weekly economic calendar. Feel free to subscribe to receive weekly economic news straight to your email or App which is available on Google Play store (see download link on the home page). Thank you for stopping by. Kindly share with anyone who is interested in learning more about the markets.
Recent Comments