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Forex News Trading Strategy For The Week
Forex News Trading Strategy for the 25th – 29th of June
The week starts off with a light economic calendar with the German Ifo Business Climate on Monday expected to come in at 107.7, slightly down from last month’s print of 108.7.
Tuesday we will get the latest CB Consumer Confidence print from the US which is expected to take a step back in July to 95.6. The June print jumped 5.6 points and to its highest level since October of last year. This survey was concluded prior to the “Brexit” vote, so some increased uncertainty it expected, however the expected 95.6 would still be a strong showing.
The Australian inflation report kicks things off on Wednesday which will likely provided plenty of volatility for the AUD considering the potential implications for the RBA. After a big miss on the last print, investors will be watching this release very closely to help determine the RBA’s next move.
Later on Wednesday is the conclusion of the Fed’s meeting where rates are expected to hold steady. With no press conference or economic projections, the market will focus on the tone of the statement for direction of the USD.
Early Friday we will see the latest Household Spending, Tokyo Core CPI, and Retail Sales from Japan. The most important of these prints is the Tokyo Core CPI that is expected to come in at -0.4%. The result of this print could increase of reduce pressure on the BOJ for additional stimulus which will be the focus of the following BOJ Monetary Policy Statement, Outlook Report, and Press Conference. Most analysts are expecting some form of additional easing.
Also on Friday we get the release of the latest inflation and growth data from the Euro Zone. The CPI Flash Estimate y/y is expected to come in at 0.1%, while the core is expected at 0.9%. GDP for second quarter is expected to have increased 0.3%, and slowdown from the more rapid than expected first quarter increase of 0.6%.
Finally, on Friday we will see the US Advance GDP for the second quarter. After a slow start to the year, growth is expected to have rebounded in Q2. The pickup in consumer spending over recent months is likely to add a significant boost to the headline figure here.
Other Forex news trading events taking place this week can be found here: Forex Factory Calendar.
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