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The greenback made some nice gains last week, taking advantage of optimistic economic data and trade wars. The United States is going ahead with the preparation of new tariff rates for Chinese goods worth $ 200 billion. It is also possible that the United States and China begin negotiations. This news has lowered risk currencies and other currencies have also been affected. The USD / JPY pair made big gains as the stock markets digested the news. The US dollar has also benefited from the rise in inflation. The consumer price index has reached 2.3%, according to analysts. Powell's statement that he enjoys a good night's sleep by referring to the country's economic situation has also helped the dollar a lot. The minutes of the monetary policy meeting of the European Central Bank were conciliatory and England witnessed the political drama. The UK government is in favor of a more flexible Brexit, but dissent within the cabinet has led to the resignation of two key ministers, David Davis and Boris Johnson. The Canadian central bank raised rates and indicated that further increases were planned. However, policy makers have expressed concern over trade
. Key news releases in the US over the coming week include retail sales and testimony from Fed Chairman Jerome Powell. A meeting between Putin and Trump is also scheduled during the week. Here is an overview of some of the major releases from around the world:
# 1: China's GDP (07/16/2018 Monday 02:00 GMT)
The economy of China widened 6.8% on an annual basis in the first quarter of this year, the same rate as in the third and fourth quarters of last year. The reading for the March quarter was in line with analysts' expectations. Growth was mainly driven by strong growth in consumption, exports and real estate investments. Forecast for the second quarter of 2018: 6.7%
# 2: Retail sales and basic retail sales in the United States (16/07/2018 Monday 12:30 GMT)
In the United States, the Retail trade rose 0.8% month after May after reading the previous month was revised upward to an increase of 0.4 percent. Reading for March easily beat analysts' expectations of 0.4 percent gain. The increase in retail trade in March was the strongest since last November. Retail trade was boosted by increased sales at gas stations, motor vehicles and aftermarket. Basic retail sales, excluding automobiles, reached 0.9%, compared to 0.4% the previous month. Analysts expected the reading to reach 0.5%. Forecasts for June 2018: Retail Sales and Basic Retail Sales to Increase by 0.4%, respectively
# 3: New Zealand CPI (16/07/2018 Monday 22:45 GMT)
In New Zealand Zealand, the consumer prices rose 0.50% in March compared to the previous month. Forecast for the June quarter: 0.5%
# 4: Australia Minutes of the RBA monetary policy meeting (17/07/2018 Tuesday 01:30 GMT)
The Reserve Bank of Australia publishes eleven times the minutes of the monetary policy meeting a year, two weeks after the announcement of the cash rate. It provides a detailed account of the last meeting of the Board of the Reserve Bank. It also offers a thorough insight into the economic conditions that influenced their decision when setting interest rates.
# 5: Mark Carney, Governor of the BoE in the UK (07/17/2018 Tuesday 08:00 GMT)
Mark Carney, It is expected that the Governor of the Bank of England, along with Jon Cunliffe, deputy governor of the Bank of England, testifies before the Hampshire Treasury Select Committee on the Financial Stability Report. Markets often remain volatile during speeches as traders try to understand the direction of interest rates
# 6: Average Earnings Index in the UK (17/07/2018 Tuesday 8:30 GMT) [19659003] In the United Kingdom, total workers' earnings, including bonuses, increased by 2.5% per year to £ 516 per week in the three months ending in April, down from the rise in 2.6% of the previous period. Reading for the period also fell short of analysts' forecasts of an increase of 2.6%. The increase in workers 'earnings was the lowest since November 2000.
Excluding bonuses, workers' earnings rose 2.8% to £ 484 a week after recording a 2.9% increase over the previous period. Analysts were expecting an increase of 2.9%. In real terms, while profits, including premiums, increased by 0.1%, profits and premiums increased by 0.4%. With this, the gains in real terms and with and without bonuses increased for the third consecutive month.
Forecasts for the three months to May 2018: 2.5% increase, including bonuses
# 7: Jerome Powell, Fed President Testimonials (17/07/2018 Tuesday 14h00 GMT)
Jerome Powell , chairman of the Fed, to testify before the Senate Banking Committee in Washington DC on the semi-annual monetary policy report. The testimony consists of two parts: reading a prepared statement and a question and answer session. Markets can become volatile during speeches as questions are not revealed beforehand.
# 8: UK CPI (18/07/2018 Wednesday 08:30 GMT)
In the United Kingdom, consumer prices rose 2.4% year-on-year in May 2018, same pace than the one – year low recorded in the previous month. The reading for the month, however, is slightly below analysts' expectations of 2.5%. Transportation costs have increased as fuel and lubricant prices have risen. Prices have increased at a slower pace for recreation and culture, housing and utilities, restaurants and hotels, and food and non-alcoholic beverages. Forecast for June 2018: an increase of 2.6% is envisaged
# 9: US building permit (18/07/2018 Wednesday 12h30 GMT)
In the United States, the number of building permits issued Decreased 4.6% Percentage of May at a seasonally adjusted annual rate of 1,301,000 in May against analysts' expectation of a decline of 1.4% to 1,350,000 permit. While single-family permits fell 2.3% to 843,000, multi-family permits fell 8.6% to 458,000. In all regions, permits issued decreased in the South and l & # 39; West. However, it has increased in the Midwest and Northeast. Forecasts for June 2018: 1,330,000
# 10: Jerome Powell, Fed President, testifies (18/07/2018 Wednesday at 14:00 GMT)
Jerome Powell, Fed President, to testify before the committee Washington DC House Financial Services on the semi-annual Monetary Policy Report. The testimony consists of two parts: reading a prepared statement and a question and answer session. Markets may become volatile during speeches as questions are not revealed beforehand
# 11: Change in crude oil inventories in the United States (18/07/2018 Wednesday 14:30 GMT)
In the United States United States, crude oil inventories fell by a million barrels during the week ending July 6 after rising 1.245 million the previous week. This is the largest decline in crude inventories since the week ended September 2nd. Analysts were expecting a decline of 4.489 million barrels. At the same time, gasoline inventories fell by 0.694 million barrels against a forecast drop of 0.75 million barrels for analysts.
# 12: Australia Job Change and Unemployment Rate (19/07/2018 Thursday 01:30 GMT) [19659003] In Australia, employment increased by 12,000 in May. The forecast for next month is an increase of 16,600 jobs. On a seasonally adjusted basis, the unemployment rate in Australia unexpectedly fell to 5.4% from 5.6% in April. Analysts were expecting the unemployment rate to reach 5.5%. This is the lowest unemployment rate since last November. The number of unemployed in Australia fell by 26,800. Forecasts for June 2018: the unemployment rate is expected to remain at 5.4%
# 13: Retail sales in the United Kingdom (19/07/2018 Thursday 08h30 GMT )
In the United Kingdom, retail trade rose 1.3% in May after reading the previous month was revised upward to a 1.8 percent increase. The reading of the month came above analysts' expectations for a 0.5% increase. A better period of time and royal wedding encouraged spending in the housewares and food stores. Forecasts for June 2018: Increase of 0.2%
# 14: Core CPI of Canada (07/20/2018 Friday 12:30 GMT)
In Canada, consumer prices rose by 0.10% in May
# 15: Basic retail sales in Canada (07/201/2018 Friday at 12:30 GMT)
In Canada, basic retail sales increased to -0.10 per cent at April against -0.20 percent in the previous month.
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