The financial markets are awaiting the release of many important economic data this week, which will have a very strong impact on currency movements such as the Australian dollar and the New Zealand dollar, as well as the US dollar and the British pound, in addition to the euro. Here is a look at the most important data expected this week:
💎 Results of the Australian Reserve meeting
These results will be released on Tuesday, specifically at 12:30 AM GMT, and the currency markets always monitor these results with caution and anticipation, especially since they include more accurate and clearer details about the economic conditions in Australia, and the circumstances of decision-making within the Australian Reserve, and then currency market traders try Reaching a conclusion or evidence regarding the bank’s upcoming decisions, and this will have strong repercussions on the movements of the Australian dollar
💎 Canadian inflation data
This data will be issued on Tuesday at 12.30 pm GMT, and expectations indicate that Canadian inflation will grow by 0.5% on a monthly basis, while the average Canadian inflation rate will record about 2.7% on an annual basis at the end of last April, and therefore, the currency markets will monitor these data. With great interest, especially since it affects the upcoming monetary policy decisions of the Bank of Canada, which affects the trading of the Canadian dollar against major currencies.
💎 New Zealand Reserve decisions
It will be issued on Wednesday at 02:00 AM GMT, and expectations indicate that the bank will keep the interest rate unchanged near the 5.50% levels, which will affect the New Zealand dollar’s trading against other currencies, but the markets will monitor the interest statement and the statements of the bank governor, regarding what it will have. Strong repercussions on the currency market.
💎 Results of the US Federal Reserve meeting
The currency market will follow the release of the results of the Federal Reserve meeting on Wednesday at 6:00 pm GMT, which will have a strong impact on currencies, especially the US dollar, as it will give details about the previous Federal Reserve decision on interest rates. Therefore, observers will try to infer hints about the interest rate decision. Expected in June, which will have a strong impact on the movements of the dollar and its pairs.
💎 European and British manufacturing and service sector data
These data are issued on Thursday, successively, starting from 8:15 to 9:30 am GMT, and the currency markets are always waiting for these data because they give an explanation or indication of how the manufacturing and services sectors within European countries and in Britain will be affected due to the tightening of monetary policy by the central banks of these countries during During the past period, therefore, if the data for these indicators came lower than expected, this would have a negative impact on the euro and the sterling against other currencies, and vice versa, if the data came higher than expected, this would have a positive impact on both the euro and sterling.
💎 US manufacturing and service sector data
It is scheduled to be released on Thursday at 1.45 pm GMT, and these data always have a strong impact on the movements of the US dollar in the currency markets, especially if the real data comes higher or lower than the expectations of the currency markets, which has a strong reflection on the performance of the US dollar.
