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Currency and Stock Markets Weekly Outlook

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Economic Weekly Outlook

Mon, Jun 16 2008, 13:01 GMT
by Adam Narczewski

X-Trade Brokers, XTB


Summer is approaching and is getting hot on financial markets. The upcoming week will certainly be interesting and news from the U.S will not be on the spotlight as usual.

On Monday, investors will be waiting for news from the American market with the TIC Net Long-Term Transactions publication being released. Later on all eyes will be on Ben Bernanke who is due to deliver a speech entitled "Challenges for Health-Care Reform" at the Senate Finance Committee Health Reform Summit in Washington DC. The topic might not be of global interest but since audience questions are expected, Fed’s Chairman might reveal more about future monetary policy.

The economic calendar is full for Tuesday. In the morning, UK’s CPI will be published and that will be important news for the GBP. Just after that, in Germany the ZEW Economic Sentiment index will be revealed. No big movements of the euro are expected since the market reacts stronger to the Ifo Institute publication. In the afternoon investors will be flooded with macroeconomic reports from the U.S including: PPI, Core PPI, Building Permits and Industrial Production. In my opinion, any of the above, can have great impact on the dollar.

Wednesday will be much calmer. Interesting reports include the Bank of Japans and Bank of England MPC minutes from their last meetings. At the end of the day, BOE’s Governor King is expected to deliver a speech.

Thursday we will start with the Swiss Central Bank interest rate statement. No change from the current 2.75% is expected. Following that, the UK will release the Retail Sales report. Investors betting on the CAD will certainly pay attention to the Canadian CPI publication. From the U.S news worth attention include the Unemployment Claims and the Philadelphia Fed Manufacturing Index.

Surprisingly, Friday will be the calmest day on the markets. More news from Canada are expected with the Retail Sales publication. At the end of the day, ECB President, Jean-Claude Trichet, will be speaking at the Forum of the Financing of Enterprises in Belgium.


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