What’s coming up on the forex calendar this week?

Justin Freeman

What’s coming up on the forex calendar this week?

Now that a new forex trading week is underway, it makes sense to look ahead at what will be coming up as the days go by.

Tuesday will begin with an interest rate decision from the Reserve Bank of Australia, which is expected at 4:30am GMT.

This currently stands at 0.25%, and analysts expect that it will be held firm – though there will be no certainty until the announcement is made.

Traders will no doubt keep a close eye on this given the trade relationship between Australia and China, the latter of which is in the spotlight for geopolitical, pandemic and economic reasons at present.

Later that morning, there will be an industrial production figure for May out of Germany.

This is due at 6am GMT, and was last recorded at -17.9% month on month.

However, it is widely expected to be revealed at 10% for May when the announcement is made.

Tuesday will also see a price index in New Zealand from Global Dairy Trade, though no time for this has yet been set.

Later in the day, there will be a speech from Randal Quarles, who serves as a member and the vice chair for supervision on the Board of Governors of the Federal Reserve in the US.

Looking ahead to Wednesday, the Swiss unemployment rate for June will be out at 5:45am GMT.

This was last recorded at 3.4% month on month, and is expected to rise to 3.6%.

Shortly afterwards, there will be two key events in the Eurozone.

The first will be a speech from the European Central Bank’s vice president Luis de Guindos.

This is scheduled to take place at 8:45am GMT.

At 9am GMT, meanwhile, the European Commission will publish its economic growth forecasts.

On Thursday, all eyes will shift to China as the country releases some information about prices.

Its producer price index for June will be out at 1:30am GMT.

The previous year-on-year measurement of -3.7% is expected to alter, with a new position of -3.2% predicted.

Its consumer price index for the same month, meanwhile, is also expected to show a change.

This was last recorded at 2.4% and is due to rise to 2.5%.

Over in the US, the usual weekly round of joblessness claims are expected at 12:30pm GMT.

Continuing jobless claims for the dates around 26th June are expected to show a change from 19,290,000 to 18,950,000.

Initial jobless claims for the dates around 3rd July will also be out.

These are forecast to show a small dip, this time from 1,427,000 to 1,375,000.

On Friday, meanwhile, there will be a meeting of the Economic and Financial Affairs Council of the Council of the EU.

This will see finance ministers from across the bloc attend to discuss issues such as budgets and public money – a discussion that will be additionally pressing in the context of the coronavirus pandemic and the associated financial crisis.

The Canadian unemployment rate for June will be released at 12:30pm GMT.

This looks set to show a change from 13.7% to 11.6%.

 


Justin Freeman

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