On the macro
It’s a quiet week ahead on the economic calendar, with 36 stats at the center of the week ending 28e May. During the previous week, 69 statistics had been finalized.
For the dollar:
In a quiet area 1st halfway through the week, consumer confidence figures for May are expected. After disappointing figures from NFP and retail sales, expect great interest in the May figures.
After a calm Wednesday, the focus will be on basic durable goods orders, 2nd estimate GDP figures and jobless claims figures on Thursday.
At the end of the week, personal inflation spending and final consumer confidence figures will also have an influence.
During the week, the dollar ended the week down 0.34% to 90.017.
It’s a quieter week on economic data front.
From Germany, final 1st Quarterly GDP figures are expected, along with business and consumer confidence figures.
Expect a big influence from the numbers, with business investment and consumer spending being critical to any lasting economic recovery.
At the end of the week, French consumption, inflation and the final 1st quarterly GDP figures are also expected.
Unless the GDP figures are revised sharply, consumer spending and inflation are likely to generate the greatest interest.
the EUR ended the week up 0.34% to $ 1.2182.
For the pound:
It’s a particularly quiet week ahead on the economic calendar. There are no significant statistics due in UK.
A lack of statistics will leave news of COVID-19 and the ongoing easing of lockdown measures to provide direction.
the Grind ended the week up 0.38% to $ 1.4150.
For the loonie:
It is also a particularly quiet week ahead on the economic calendar.
There are no important stats to guide the Loonie. In the absence of statistics to consider, crude oil inventory numbers and market risk sentiment will have an influence in the coming week.
We continue to see drawbacks for the loonie to be modest.
the Loonie ended the week up 0.31% to C $ 1.2066 against the US dollar.
Outside of Asia
For the Australian dollar:
It’s yet another relatively quiet week to come.
Key statistics include construction work done and new CAPEX figures for the first quarter.
With business investment being critical to the on-going economic recovery, expect CAPEX numbers to be critical.
the Australian dollar ended the week down 0.50% to $ 0.7732.
For the kiwi dollar:
It’s a busier week ahead.
At the start of the week, retail sales figures for the 1st quarter will influence trade data from April to Wednesday.
The RBNZ’s monetary policy decision will be the main event on Wednesday, however.
With the markets expecting the RBNZ to hold on, the rate statement and press conference will be the main drivers. A number of central banks have recently issued hawkish statements …
the Kiwi dollar ended the week down 1.05% to $ 0.7174.
For the Japanese yen:
It’s a quieter week ahead.
Inflation figures for Tokyo are due at the end of the week. Expect the core inflation numbers for May to generate the most interest, although we don’t expect too much influence on the yen.
the Japanese yen rose 0.36% to ¥ 108.96 against the US dollar.
Outside of china
It’s a quiet week ahead, with no important statistics for the markets to consider.
The Chinese yuan ended the week down 0.05% to CNY 6.4340 against the US dollar.
There are no major risks to consider in the coming week.
With the Iranian presidential elections coming up and Rohani’s moderation on the way, however, there could be question marks over the nuclear deal … Election day is June 18.e.
As always, markets will also need to watch for gossip from Capitol Hill and Beijing.
This item was originally posted on FX Empire
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