All attention during the week will be on the US Federal Reserve Rate Hike on Wednesday at 18:00 GMT. The central bank rate is forecast by the markets to be increased by 0.50%. However, a larger or smaller than expected increase could shock the markets by impacting the US Dollar's value. In addition, at 18:30 GMT, the Federal Reserve will
On April 28, the Bank of Japan released its Outlook Report and Monetary Policy Statement. In general, the bank is set to continue its monetary easing policy, which is weakening the value of the Yen. Namely, the bank is keeping its bank rates at previous levels and 10-year Japanese government bond yield target is set to be the same. Meanwhile, the
During the week, minor moves could be created by some data releases. Meanwhile, note that the whole financial market continues to adjust to the latest comments made by the Federal Reserve about monetary tightening. On Tuesday, the US Durable Goods Orders might impact the USD value at 12:30 GMT. On Thursday, the US Advance GDP is expected to cause USD volatility across
At 06:00 GMT, the UK statisticians revealed that the monthly retail sales had declined in the UK by 1.4% instead of the expected 0.3%. Namely, there is a lot less demand for the GBP in the local economy. The GBP/USD reacted to the news with a drop of 115 base points or 0.88% in an hour and half after the
At 12:30 GMT on Wednesday, the Canadian Consumer Price Index data revealed that monthly inflation in Canada had increased by 1.4%, compared to the market forecast of 0.9%. The news signaled that the local demand for the Canadian currency is higher. Moreover, the Bank of Canada could tighten the supply of the Canadian currency event further in an effort
On Wednesday, the Canadian Consumer Price Index data is set to impact the value of the Canadian Dollar by revealing the changes in local prices in Canada. On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor USD move. On Friday, at 06:00 GMT the value of the GBP could adjust to the UK Retail Sales
On April 14, the European Central Bank kept its base rates in the negative zone and revealed that it would end asset purchases only in the third quarter of 2022. The news indicate that the rampant inflation in the European Union is set to continue, and the value of the Euro is going to decline. Quoting the statement: "Inflation has increased significantly
On April 13, the Bank of Canada published its monetary policy statement. The central bank hiked its interest rate from 0.50% up to 1.00%, which was an expected 50 base point hike. Moreover, the bank stated that more increases are to be expected, as inflation continues to surge. Meanwhile, the statements of the central bank were seen variously by market participants.
On April 13, at 02:00 GMT, the Reserve Bank of New Zealand hiked interest rates. The markets expected a 0.25% hike that would increase rates up to 1.25%. However, the bank hiked 0.50%, which put the Official Cash Rate at 1.50%. This was the most aggressive rate hike in a period of 22 years. The central bank is beating down on
On Tuesday, the US Consumer Price Index was released. Monthly inflation in the US was revealed to be at 1.2%. Due to the news, the value of the USD plummeted, as the markets interpreted the news as a signal of incoming US monetary tightening.
The second week of April is set to be busy, as US Consumer and Producer Price Index data will be published. In addition, the central banks of New Zealand, Canada and Euro Zone are set to make rate statements. On Tuesday, at 12:30 GMT, the US Consumer Price Index will reveal, how the US inflation has continued to grow, as some
On April 5, the Reserve Bank of Australia published its Rate Statement. The central bank kept the Australian base interest rate at 0.10%. Meanwhile, the central bank revealed that due to the ongoing surge in commodity prices, the Australian economy is doing very good. Quoting the statement: "The Australian economy remains resilient and spending is picking up following the Omicron setback. Household
During the week, almost all attention will be paid to the US Federal Reserve Federal Open Market Committee Meeting Minutes on Wednesday at 19:00 GMT. The meeting minutes are a protocol of the central bank's committee, which decides US and, subsequently, global monetary policy. The document is set to reveal, what the committee talked about and detailed information about their
There are nine sets of data being released this week, which might cause an impact on currency valuations. Five of the nine are US employment datasets. The week's notable publications will start on Wednesday at 13:15 GMT, as the ADP Non-Farm Employment Change is set to be published. Also on Wednesday, at 13:30 GMT, the US Final GDP might cause minor
On March 24, the Swiss National Bank issued its Monetary Policy Assessment and revealed Policy Rate. In general, monetary easing is set to continue, as the rate remains at -0.75%. Moreover, the bank has clearly stated that it is going to get involved in the Forex markets and will push the Swiss Franc down. Quoting the statement: "The SNB is retaining
The top events during the week will be the UK CPI, the German PMIs and the Swiss National Bank Policy Rate and Monetary Policy Assessment release. On Wednesday, the weeks notable events will start at 07:00 GMT, as the UK Consumer Price Index is set to be published. Later on, on the same day, note the US weekly crude oil inventory
At 12:00 GMT on Thursday, March 17, the Bank of England hiked its Official Bank Rate by 0.25%, increasing rates to 0.75%. The bank also published its Monetary Policy Summary. Quoting the statement: "The MPC sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 16
On Wednesday, March 16, the US Federal Reserve issued a monetary policy statement and hiked interest rates. The central bank hiked interest rates, as forecast by the markets by only 25 base points. In addition, the bank revealed that it would reduce its balance sheet at one of the upcoming meetings. Quoting the statement: "Indicators of economic activity and employment have
The top events of the week will be the US Federal Reserve Statement and the Bank of England's release of Monetary Policy Statement. However, take into account that inflation and retail sales data might cause notable moves. On Tuesday, at 12:30 GMT, the US Producer Price Index data will be out. Expect minor moves on USD charts. On Wednesday, Canadian Dollar pairs
On Thursday, March 10, the European Central Bank published its Monetary Policy Statement. In general, the bank kept its interest rates unchanged. However, the bank announced that it would end the Pandemic emergency purchase programme and slow down the Asset purchase programme. The bank revealed also that interest rates could be changed only after the programs have been shut down.
There are only three notable times to watch the calendar scheduled for the week. Moreover, there is nothing noteworthy until Wednesday. On Wednesday, at 15:30 GMT, crude oil prices are expected to react to the publication of the weekly US Energy Information Administration crude oil inventories data. On Thursday, at 12:45 GMT the European Central Bank will release its Main Refinancing Rate.
On Wednesday, March 2, the Bank of Canada hiked its Overnight Rate from 0.25% to 0.50%. The rate hike was expected by the markets. Meanwhile, the central bank announced that it would keep its holdings of government bonds unchanged. In addition, the bank announced that it would implement more monetary tightening in the future. Quoting the statement: "The Bank of
On Tuesday, March 1, at 03:30 GMT the Reserve Bank of Australia published its Monetary Policy Decisions. In general, the central bank kept its cash rate at 0.10%. Meanwhile, the bank commented on the global economy and the conflict ongoing in Ukraine. Quoting the statement: "The global economy is continuing to recover from the pandemic. However, the war in Ukraine
As the headline states, during the week central banks and US employment data is set to be in focus. Namely, the Bank of Canada and Reserve Bank of Australia are scheduled to make rate statements. On Tuesday, at 03:30 GMT, the Reserve Bank of Australia is set to publish its Rate Statement. The central bank is expected to keep its interest