TOP 3 MARKET EVENTS IN UPCOMING WEEK – JUNE 06, 2021

TOP 3 MARKET EVENTS IN UPCOMING WEEK – JUNE 06, 2021

 Japan Gross Domestic Product (GDP) QoQ 

  WHEN:                                                                WHAT IT INFLUENCES:

7th  JUNE 2021                                                JPY and its subsequent

                                                                             pairs

WHAT’S HAPPENING:

Gross Domestic Product (GDP) measures the change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.

Germany ZEW Economic Sentiment

WHEN:                                                                 WHAT IT INFLUENCES:

8th JUNE  2021                                                  EUR and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism.

The reading is compiled from a survey of about 350 German institutional investors and analysts. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

U.S. Crude Oil Inventories 

WHEN:                                                               WHAT IT INFLUENCES:

9th June 2021                                                    USD and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.

If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

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