Important data looming, stocks corrective
|Important news this week
Tue, 17th, 08:00 CET UK Claimant count change.
Tue, 17th, 14:30 CET CA Consumer prices index.
Wed, 18th, 02:00 CET NZ RBNZ interest rate decision.
Wed, 18th, 20:00 CET US FOMC meeting minutes.
Fri, 20th, various EU/UK/US Purchasing manager indices.
Fri, 20th, 14:30 CET US Core pce price index.
Important data
This week will feature several important data points. The RBNZ is unlikely to cut interest rates, but its choice of words could move the kiwi. The consumer price index from Canada is also interesting. An increase in prices might support the Loonie and hence push pairs like the EUR and USD lower against the Canadian Dollar. The FOMC meeting minutes from the past Central Bank gathering might shed more light into the future of the Dollar, as the recent press conference did not offer much insights.
Market Talk
Markets mostly started to retrace at the beginning of this week. The JPY is losing some momentum after having gained strength throughout last week. Also equities resume some upside momentum but still might continue their corrective path. Ahead of the NZD rate decision on Wednesday the NZD is losing some momentum and might continue to push lower. The EURNZD and the GBPNZD both look like they will fall further. The slight positive trend of cryptos seemingly came to a hold and markets might now follow the negative trend of US indices during this week’s trading.
Tendencies in the markets
- Equities mixed, USD positive, crypto rebound, oil weaker, Silver weaker, Gold sideways.
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