Week ahead – 25 May 2015

Posted On 25 May 2015
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There is very little data of note this week due to the fact that there is a bank holiday on Monday in the UK and the USA celebrates Memorial Day.
However even though data is extremely light we do have three days of G7 meetings starting on Wednesday.
G7 meetings are attended by finance ministers and central bankers from 7 industrialized nations – Canada, Italy, France, Germany, Japan, the UK, and the US. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is usually released after the meetings have concluded. Both the comments and statement can create significant market volatility.
While it’s not an institution, the G7 is an influential global policy-making body operating at the highest level, and their initiatives and policies can have a substantial impact on financial markets.
The data we do have is the following:
USD: On Tuesday we have Core Durable Goods Orders thought to be 0.5% and Consumer Confidence anticipated at 95.3.
On Thursday we have the customary Unemployment Claims estimated at 272,000 and on Friday GDP which is anticipated to show a decline of 0.9%.
EURO: There is no data for the Euro this week.
GBP: Only one item on Thursday which is the GDP Estimate at 0.4%.
YEN: The Yen is the only currency which has a number of key data points.
On Sunday night we have the Trade Balance figure estimated to show a decline of 0.38T.
On Tuesday we have the Monetary Policy Meeting Minutes.
Wednesday sees the release of Retail Sales forecasted to be 5.9%.
On Thursday we have both Household Spending and Tokyo Core CPI. The former is thought to be 3.1% and the latter 0.2%.
AUD: One item on Wednesday which is Private Capital Expenditure which is thought to show a decline of 2.3%. Not good.
CNY: No data for the CNY.
OUR VIEW: Three days of G7 meetings. Three days of speculating on what is being discussed. Three days of G7 briefings.
It is going to be very, very volatile.

Stay nimble. Good luck trading.



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