Weekly Trading Forecast (May 27 - Jun 02)

Traders and analysts around the world will have a very busy next week digging the numbers from the many industries of the U.S and Europe. This article will present our weekly trading forecast during the period from May 27 to Jun 02, targeting the prospect of major financial assets.

Monday – 05/27/2018

Bank of Japan will release the Services Producer Price Index (SPPI) of April at 00:50 GMT, which was forecasted to be stable at 0.5%. Should there is no uncontemplated significant news, the USD/JPY will not likely to change dramatically next week and the current bearish trend this week will much likely continue.

Tuesday – 05/28/2018

From 01:00 GMT, BOJ Governor Kuroda will speak at the Bank of Japan-Institute for Monetary and Economic Studies annual conference in Tokyo. At 15:00 GMT, the Conference Board Inc. of the U.S will publish the CB Consumer Confidence with a very slight change in the forecast of experts from last month’s number (128.2 in compared with 128.7). Meanwhile, the RBNZ Financial Stability Report will be posted with insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future.

Wednesday - 05/29/2018

Related to the above mentioned RBNZ’s report, RBNZ Governor Orr will have his speech in the testification about the Financial Stability Report before the Parliament Select Committee, in Wellington at 02:10 GMT. Any sign of a positive financial stability will considerably improve the current bearish trend of the NZD/USD. At 13:15 GMT and fifteen minutes after that, the ADP Non-Farm Employment Change and Prelim GDP of the U.S will be published with the ADP Non-Farm Employment Change forecasted at 186K and the Prelim GDP predicted to be stable at 2.3%. At 15:00 GMT, besides the Overnight Rate, BOC Rate Statement will be announced and is much expected by traders for any hint on the coming applied monetary policy. In Europe, SNB Chairman Jordan will deliver a speech titled "Innovation and Entrepreneurship: Success Factors in a Changing Economic World" at the De Vigier Foundation Awards Ceremony, in Switzerland.

RBNZ Governor Orr
Source: Twitter

Thursday - 05/30/2018

Early in the day at 02:00 GMT, the ANZ Business Confidence will be proclaimed. In the next thirty minutes, the 1st quarter’s Private Capital Expenditure of Australia will be made public with the forecast of 1.1%. The current recovery of the AUD/USD will be fortified with a bright view from this report. In Canada, this April’s GDP will be announced at 13:30 GMT and is forecasted at 0.2%, posting a 50% decrease from last month’s 0.4%. This may put a considerable pressure on the recent bullish trend of the USD/CAD. At 16:00 GMT, the weekly Crude Oil Inventories of the U.S will be reported as an indispensable part of any week’s forex news.

Friday - 05/31/2018

At 09:30 GMT, the Manufacturing PMI of England in May will be declared and is anticipated to drop a bit from last month’s 53.9. Given the last week’s bearish condition of the GBP/USD exchange rate, traders may have another point to consider before making decisions. From 13:30 GMT to 15:00 GMT, many indices from the U.S will be proclaimed with positive forecasts (forecast provided in the () with comparison to last month’s index): the Average Hourly Earnings (0.3% in compared to 0.1%), the Non-Farm Employment Change (190K in compared to 164K), the Unemployment Rate (stable at 3.9%), and the ISM Manufacturing PMI (58.2 in compared to 57.3). These indices draw a positive view on the U.S’s economy and therefore the USD value against other major currencies will benefit.
See also:
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