Here’s a brief summary of major currencies news as what to expect, and which things to look for in the upcoming week.
5 Major Currencies News
The United States Dollar:
There is not a lot happening with the USD currency in the upcoming week. U.S-China trade talks are to be held in the upcoming week in Washington and may influence the USD slightly. Apart from that, the United States March Job Opening and Labor Turnover (JOLT) data are due on Tuesday, and April inflation figures are due to be out on Thursday. These are the major things to look for if you are interested in analyzing the position of USD this week.
The Great Britain Pound:
In contrast, it is expected to be a busy week for the GBP ahead. The busiest day is going to be the Friday when trade data, manufacturing, and industrial production and GDP numbers of the first quarter will be out and play a significant role in driving GBP one way or the other.
Moreover, any talk related to a no-confidence vote in the Parliament as well as general sentiments related to Brexit will also continue to influence the country’s currency.
The Australian Dollar:
Different data-sets, such as retail and trade sale figures are due on upcoming Tuesday but the focus of the market is expected to be towards Reserve Bank of Australia (RBA) monetary policy announcement. With rate statement on Tuesday and policy statement out on Friday, the market is getting prepared to respond to the news, even though big surprises are not expected at the moment.
Progress on US-China trade talks is going to be the key for so many fronts, including Chinese Yuan. Many analysts are hopeful for an agreement to reach in this week’s Washington talks. Moreover, April trade figures are due to be announced on Wednesday and Thursday marks the day for April inflation figures. Further, Purchasing Managers’ Index (PMI) numbers for April service sector are also due on Monday which will also play a significant role in determining risk sentiment.
The New Zealand Dollar:
Reserve Bank of New Zealand (RBNZ) monetary policy is hugely anticipated and it will be announced this Wednesday, making it the biggest event of the week. Analysts are keen to know whether or not RBNZ is going to announce rate cut as a lot can be dependent upon it.
Some other data, such as electronic card retail sales, is also to be announced in the second half of the week but it is not likely to have any significant impact.