A Week in the Market (21.06 - 27.06): Statistics and Monetary Solutions

A Week in the Market (21.06 - 27.06): Statistics and Monetary Solutions

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The new week of June will bring us a flow of American statistics, decisions of several Central banks, and comments of the BoE on the new reality. This might be a refreshment for the currency market.

Central banks: time to watch

This week, Central banks of Hungary, Thailand, the Czech Republic, Georgia, Mexico, and the Philippines are having meetings. On the whole, the rhetoric and structure of their credit and monetary policy are not going to change. Capital markets are craving for stability, so that the situation was stable and good for risky assets

GBP: attention to the Bank of England

The Bank of England will have another meeting where it will decide something about the monetary policy and interest rate. No serious changes are forecast but the comments of the BoE about the economic situation might become more confident as long as the coronavirus restrictions are being lifted. The more positive the comments, the better for the GBP.

USD: the dollar will go on

This week, the USA are preparing to publish information on the secondary housing market and new building sales. Moreover, another evaluation of the GDP in Q1 is worth checking alongside spending and earning of people in May and order volume for durable goods. The US economy in January-March could have grown by the expected 6.4%, which will be neutral for the USD. The statistics might turn out moderate, so the USD will continue its previous course.

EUR: any foothold will do

In the Euro zone, a large block of macro statistics is expected that includes the CCI, prelim PMI statistics in production and non-production. Moreover, the head of the ECB Christine Lagarde is planning a speech in the Parliament. Her speech might give catalysts for the currency market as well. The stronger the digits and Lagarde's comments, the better foothold the euro will have.

JPY: the yen enjoys demand

This week, the Japanese yen is in demand while global indices are falling and the interest toward secure assets is growing. The Japanese statistics will be scarce: the PMI in production in May is being prepared for publication. Moreover, the Bank of Japan will issue the minutes of the previous meeting. All this hardly affects the behavior of the JPY, while the demand for safe-haven assets is the obvious.

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