The foreign exchange trading week is now beginning to come to an end, and so now is a good time to look ahead at what’s on the agenda next week.
The forex week will kick off in earnest on Monday 13th with an announcement from China on foreign direct investment levels for the month of June.
There is, as yet, no specified time for the announcement.
The day will be relatively quiet after this, though a speech from Andrew Bailey, who is the new Governor of the Bank of England and who has been in office since March, will occur at 3:30pm GMT.
This will be followed at 6pm GMT by the US monthly budget statement, which will cover the month of June.
On Tuesday 14th, there may be something of a slowdown in trading volume from Europe due to a public holiday in France.
Banks will be closed there as part of the celebrations for Bastille Day.
Other economies, however, will remain highly active when it comes to forex.
In China, for example, import and export data for June is due out at some stage over the course of the day – though the time of this has again not yet been confirmed.
Japanese industrial production figures for the month of May will be out at 4:30am GMT.
In Britain, meanwhile, industrial production figures are also expected later in the day at 6am GMT.
These will cover the month of May.
Month on month, these are due to show a change from -20.3% to +15%.
Manufacturing production figures for the same period and country will be out during the same time slot.
These figures are due to go from a previous position of -24.3% to a new figure of -15.8%.
However, the key event in this time slot will be the British gross domestic product figures for May.
Month on month, these were last recorded at -20.4%.
There is as yet no clear analyst consensus on where the figures are likely to go next.
However, it is almost certain that this metric will reflect the performance of the British economy during the coronavirus outbreak – and as such it is likely to be closely monitored by traders.
In Germany, meanwhile, a harmonised index of consumer prices will be out at 6am GMT.
This figure will cover June and is likely to cause some response in the single European currency trading markets.
The figure is predicted to show a drop in prices in Europe’s largest economy, with the year-on-year figure due to go from 0.8% to 0.5%.
Later in the day, there will be a release from the European Central Bank.
The bank lending survey in the country will be out at 8am GMT.
Attention will shift back to Germany later in the day when the ZEW Economic Sentiment survey comes out at 9am GMT, covering July.
This is due to show a change from 63.4 to 60.
A busy morning for the markets will come to a close at lunchtime in the GMT time zone when the US consumer price index is released at 12:30pm GMT.
This will cover the month of June and is expected to show a year-on-year change from 0.1% to 0.3%.
- China’s New Central Bank Digital Currency Dishes Out More Pain to The Dollar
- Russell 200 Index – US Jobs Report Could Signal a Good Week for Equity Markets
- Deliveroo’s IPO Flopped But is Now the Time to Buy?
- Archegos – Could the Markets be About to Crash?
- Will Wednesday’s Speeches Correct This Forex Disconnect?
- Is This the Time to Buy the Dips?
China’s New Central Bank Digital Currency Dishes Out More Pain to The Dollar
Russell 200 Index – US Jobs Report Could Signal a Good Week for Equity Markets
Safest Forest Brokers 2020
|Broker||Info||Best In||Customer Satisfaction Score|
|#1||Your capital is at risk Founded: 2011||Global CFD & FX Broker||
BEST FOREX BROKER Visit broker
|#2||CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Founded: 2010||Global Forex Broker||
Low minimum deposit Visit broker
|#3||Your capital is at risk Founded: 2014||Global Forex & CFD Broker||
Best Trading Conditions Visit broker
|#4||Your capital is at risk Founded: 2014||Global Forex Broker||
BEST SPREADS Visit broker
|#5||80.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Founded: 2008||Global CFD Broker||
Best Trading App Visit broker
Stay up to date with the latest Forex scam alerts
Sign up to receive our up-to-date broker reviews, new fraud warnings and special offers direct to your inbox