What Events Will Affect Your Trading This Week?

FXOpen

Here are some upcoming events in the market this week that could present some potential trading opportunities for you:

The British Pound has been on a strong run over the last year as higher interest rates have made it a more attractive currency for investors. With inflation remaining stubbornly high at 8.7%, will the wage growth data released on Tuesday at 09:00 continue to show that earnings are keeping up with prices, adding further pressure on the Bank of England to hike rates going forward?

In contrast, the US dollar has continued to weaken, as inflation in the USA continues to fall and the jobs market continues to soften. On Wednesday at 15:30, we get the latest inflation data, which analysts expect to show a further decline to 3.1%.

The Bank of Canada surprised the markets with an interest rate hike to 4.75% last month, and the consensus is that they will continue with another 25 bps increase this month when they announce at 16:00 on Wednesday.

The Chinese economy and Australian Dollar have a high correlation due to the huge demand for natural resources, so keep an eye on the Import and Export data from China on Thursday at 06:00. Imports have declined in 6 out of the last 7 months, indicating a softening of the Chinese economy, which could have a negative impact on the Aussie Dollar.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Financial Market News

Weekly Market Wrap With Gary Thomson: Nasdaq 100, NVIDIA, EUR/USD, Gold price Weekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks Weekly Market Wrap With Gary Thomson: UK100, Hang Seng Index, AUD/JPY, GBP/USD, USD/CAD Japanese Yen Goes on Volatility Drive after US Economic Uncertainty Surfaces Weekly Market Wrap With Gary Thomson: FTSE100, US Dollar, USD/JPY, BTC/USD

Latest articles

Forex Analysis

GBP/JPY at Highest Level in Over 15 Years

As shown by today's GBP/JPY chart, the exchange rate has not only surpassed the psychological level of 200 yen per pound but has also exceeded the peak of 29 April 2024. The market is now experiencing prices last seen

Shares

Elon Musk Contributes to NVDA Price Surge to a New Record

Yesterday, on Tuesday, Nvidia's stock price reached a historic high, surpassing the $1,130 mark, increasing by almost 7% relative to Monday's closing price. This happened after a turbulent past week, during which Nvidia published a very strong report that

What Is a Falling Knife in Trading?
Trader’s Tools

What Is a Falling Knife in Trading?

It’s often repeated that traders should ‘never catch a falling knife.’ This phrase highlights the risks of buying into a rapidly declining asset. Understanding what a falling knife is, its causes, and strategies for trading it may help traders

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.