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.
