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Markets will face a heavy load of high-impact economic data highlighed by the US and Canada jobs report on Friday, and central bank events next week. The Bank of Canada and European Central Bank are expected to cut rates next week.
Monday, June 2
10:00am (US) – ISM Manufacturing PMI (Forecast: 49.3 | Prior: 48.7)
1:00pm (US) – Fed Chair Powell Speaks
Tuesday, June 3
2:30am (CHF) – CPI m/m (Forecast: 0.2% | Prior: 0.0%)
TBD (JPY) – BOJ Governor Ueda Speaks
10:00am (US) – JOLTS Job Openings (Prior: 7.19M)
9:30pm (AUD) – GDP q/q (Forecast: 0.4% | Prior: 0.6%)
Wednesday, June 4
8:15am (US) – ADP Non-Farm Employment Change (Forecast: 110K | Prior: 62K)
9:45am (CAD) – Bank of Canada Rate Statement
9:45am (CAD) – Overnight Rate Decision (Forecast: 2.50% | Prior: 2.75%)
10:00am (US) – ISM Services PMI (Forecast: 52.0 | Prior: 51.6)
10:30am (CAD) – BoC Press Conference
Thursday, June 5
8:15am (EUR) – ECB Main Refinancing Rate (Forecast: 2.15% | Prior: 2.40%)
8:15am (EUR) – ECB Monetary Policy Statement
8:30am (US) – Weekly Unemployment Claims (Forecast: 232K | Prior: 240K)
8:45am (EUR) – ECB Press Conference
Friday, June 6
8:30am (CAD) – Employment Change (Forecast: 7.4K)
8:30am (CAD) – Unemployment Rate (Forecast: 6.9%)
8:30am (US) – Average Hourly Earnings m/m (Forecast: 0.3% | Prior: 0.2%)
8:30am (US) – Non-Farm Payrolls (Forecast: 130K | Prior: 177K)
8:30am (US) – Unemployment Rate (Forecast: 4.2%)
This article was written by Greg Michalowski at www.forexlive.com.
Market Picture Market capitalisation is down 2.2% today and more than 4.6% in seven days to $3.34 trillion. Bitcoin’s fluctuations are creating briefly higher volatility in older altcoins: BTC’s 1.7% decline contrasts with ETH’s 3.5% drop, XRP’s 4% weakening, SOL’s 4.6% decline and Doge’s 8.5% pullback. Bitcoin was down to $104.7K on Friday morning, stabilising […]
The post Bitcoin Pushes Back, Altcoins Lose More appeared first on Action Forex.
The price of gold fell below 3,300 USD per troy ounce on Friday, closing the week with a loss of approximately 1%. Key drivers behind gold’s movement Investors remain cautious ahead of today’s US PCE inflation report, which could offer fresh clues on potential Federal Reserve rate adjustments. On Thursday, gold prices gained nearly 1% after an appeals court […]
The post Gold Ends the Week Lower as Risk Appetite Returns appeared first on Action Forex.
BoE MPC member Alan Taylor reinforced his dovish position in an interview with the Financial Times, highlighting growing downside risks to the UK economy from global developments. Taylor, who alongside Swati Dhingra voted for a larger 50bps rate cut in May, argued that monetary policy should be on a “lower policy path” given the accumulating […]
The post BoE’s Taylor: Global headwinds justify lower monetary policy path appeared first on Action Forex.
Daily Pivots: (S1) 143.34; (P) 144.81; (R1) 145.66; More… Intraday bias in USD/JPY remains neutral for the moment. On the upside, above 146.27 will target 148.64 resistance first. Firm break there will resume the rebound from 139.87. Nevertheless, break of 142.10 will bring deeper fall back to 139.87 low. In the bigger picture, price actions […]
The post USD/JPY Daily Outlook appeared first on Action Forex.