TOP 3 MARKET EVENTS IN UPCOMING WEEK

TOP 3 MARKET EVENTS IN UPCOMING WEEK

Australia Retail Sales MoM

 WHEN:                                                                WHAT IT INFLUENCES:

20th JUNE 2021                                                AUD and its subsequent

                                                                             pairs

WHAT’S HAPPENING:

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

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

U.S. Fed Chair Powell Testifies

WHEN:                                                                 WHAT IT INFLUENCES:

22nd  June 2021                                                  USD and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

Federal Reserve Chair Jerome Powell (Feb. 2018 – Feb. 2022) is to testify on the economic outlook and recent monetary policy actions before the Joint Economic Committee, in Washington DC. The testimony is in two parts; the first is a prepared statement, then the committee conducts a question and answer session. The Q&A portion of the testimony can see heavy market volatility for the duration

U.K. Services Purchasing Managers Index (PMI)

WHEN:                                                               WHAT IT INFLUENCES:

23rd JUNE 2021                                                  GBP  and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

The Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

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

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