Monday – 08/14/2017
The industrial production figure of China is going to be announced at 3:00 (GMT). It’s forecasted to be 7.1%, meaning 0.5% less than its previous month. This may cause the Chinese Yuan to head lower, supporting the currency pairs which have CNY as a counterpart to move up. The Australian Dollar could also be impacted a little negatively due to the AUD-CNY positive correlation.
Tuesday - 08/15/2017
The next Tuesday may see the Australian Dollar torn as there is a monetary policy meeting at 2:30 (GMT). Governor Philip Lowe before mentioned that a weaker Aussie would help the economy back to full employment even though the recent Australian economic data had been better than expected, suggesting a tumbling Aussie when the meeting takes place. The core retail sales data of the US and UK’s CPI will also be released with the expectation of rising by 0.1-0.2%.
Wednesday - 08/16/2017
The US Dollar will be main point of the day as the FOMC meeting takes place at 7 p.m. GMT. There will be a lot of things being discussed, especially the interest rate hike itinerary of Fed in 2017. We suggest traders stay outside the market due to lots of disturbing information about the Greenback, containing geopolitical fears. Besides, UK’s average earning figures were continually foreseen to fall, signaling a weaker Sterling.
Thursday - 08/17/2017
An 5.8K expansion in Australia Employment having been forecasted recently is likely to drive AUD higher on Thursday. Combined with the negative expectation of UK’s retail sales figure, traders may witness the Sterling-Aussie slip lower than this week’s close.
Friday - 08/18/2017
Friday only sees the Canada CPI adumbrated to be higher than its previous monthly release. Combined with the fact that the Bank of Canada (BoC) has recently been expected to adopt a more hawkish tone, CAD may find itself strengthen in the near future.