FXOpen: Your Financial Market Weekly Digest

Can't read or see images? [View this email in a browser](  [] [FXOpen]( Any questions? [Email us](mailto:support@fxopen.co.uk?subject=) [Financial Market News] Welcome to this weeks Financial Market News, where we bring you the most important data releases of the week, to show where increased volatility and large market moves could be in play. [ [Trade now]( Economic data releases Tuesday, July 6 Australia: RBA Interest Rate Decision + RBA Rate Statement + RBA Governor Philip Lowe’s speech If the RBA is hawkish about the inflationary outlook of the economy and raises the interest rates, it is positive/bullish for the AUD; if the RBA has a dovish view on the Australian economy and keeps or cuts the interest rate, it is seen as negative/bearish. EU: Retail Sales, YoY, May The report, released by the Eurostat, measures the changes in sales of the Eurozone retail sector, showing its performance in the short-term. The percent changes are widely followed as an indicator of consumer spending. US: ISM Services PMI, June The Institute for Supply Management’s (ISM) Services Purchasing Managers Index (PMI) reflects the current conditions in the US service sector, a large GDP contributor. As a rule, stronger-than-expected readings strengthen the USD. Wednesday, July 7 EU: European Commission’s Economic Growth Forecasts The report covers the next two years and about 180 variables. The forecasts serve as the basis for evaluating economic performance and trends of the EU member states in regard to potential austerity measures and other forced spending cuts. US: FOMC Minutes Minutes of the Federal Open Market Committee contain clues for investors regarding the future US interest rate and policy outlook alongside the vote split. The market reaction to FOMC Minutes could be delayed as news outlets don’t have access to the publication before the release. Australia: RBA Governor Lowe’s Speech on the labor market & monetary policy Audience questions expected. Volatility is often observed during Lowe’s speeches as traders attempt to decipher interest rate clues. Thursday, July 8 Switzerland: Unemployment Rate s.a., MoM, June The report divides the number of unemployed workers by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the Swiss labor market and dwindling economy. A decrease of the rate is seen as positive/bullish for the CHF. Switzerland is one of the world's most advanced free market economies. Key areas of the local economy include micro-technology, hi-tech, biotechnology and pharmaceuticals, as well as banking and insurance. EU: ECB Special Strategy Meeting European Central Bank policymakers are to hold a meeting in Frankfurt to wrap up their strategy review and finalize a new definition of price stability. While this is not a formal monetary policy meeting, it still may shape the ECB’s plans for when and how to exit the emergency measures it deployed during the pandemic. Its €1.85 trillion ($2.19 trillion) bond-buying program is set to run at least until March 2022. Friday, July 9 China: Consumer Price Index, YoY, June The report is a measure of retail price variations within a representative basket of goods and services. The CPI is a key indicator to measure inflation and changes in purchasing trends. A substantial consumer price index increase would indicate that inflation has become a destabilizing factor in the economy, potentially prompting The People’s Bank of China to tighten monetary policy and fiscal policy risk. A high reading is seen as positive/bullish for the CNY, while a low reading is seen as negative/bearish. Canada: Unemployment Rate, June + Net Change in Employment, June The Unemployment Rate is the number of unemployed workers divided by the total civilian labor force, and is a leading indicator for the Canadian economy. If it goes up, it shows a lack of expansion within the Canadian labor market and weakens the economy. A decrease here is normally seen as positive/bullish for the CAD. The amount of people working and consumption are two closely interconnected indicators that impact inflation and the Bank of Canada’s rate decisions, affecting, in turn, the CAD.A rising Employment Change has positive implications for consumer spending which stimulates economic growth. Armed with FXOpen’s weekly newsletter, you are now ready to face the next five days of intensive trading! 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