Analysts at TDS enlist three major event risks due on the cards in the week ahead, which is likely to have a major bearing on the financial markets across the globe.
Key Quotes:
“June 18th – 20th Fed Speakers: A range of post-FOMC speakers will be anchored by Chair Powell at Sintra on Wednesday. We don't expect any material changes from his June press conference remarks, which emphasized a strong US economy that warranted continual, gradual hikes. Other speakers currently scheduled for the week include Williams (not on policy), Bostic, and Dudley in his first post-retirement speech.
June 22nd OPEC Meeting: We suspect that any agreement to increase production will have to be suitable for the whole cartel, which could potentially suggest that while the restrictive production regime could be eased, OPEC will likely decide to increase supply at a slower rate than the market currently fears. Until then, the market will continue to take its cues from OPEC's "policy trial balloons".
June 22nd Bank of England Decision: We expect the MPC to keep policy on hold and shy away from comments about market expectations of future rate hikes. But in reaffirming its view that the 2018Q1 growth slowdown was temporary, markets might interpret that as a signal that an August hike is more likely. We expect a 7-2 vote, but risks of a 6-3 vote should not be discounted.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD clings to modest gains above 1.0650 ahead of US data
EUR/USD trades modestly higher on the day above 1.0650 in the early American session on Tuesday. The upbeat PMI reports from the Eurozone and Germany support the Euro as market focus shift to US PMI data.
GBP/USD extends rebound, tests 1.2400
GBP/USD preserves its recovery momentum and trades near 1.2400 in the second half of the day on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling gather strength against its rivals.
Gold flirts with $2,300 amid receding safe-haven demand
Gold (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark in the European session. Eyes on US PMI data.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.