Giles Coghlan LLB, Lth, MA
Financial Source
Looking at this week's main tradable opportunities, Tuesday brings the Swiss CPI print, a key indicator to watch given recent comments by the SNB's Jordan about inflation risks and the weak Swiss franc. A higher-than-expected inflation print could strengthen the franc, reversing some of its recent losses.
The action continues with German unemployment data, which could affect the euro, especially if it shows strength in Germany's economy. This could potentially lift the euro, particularly against the pound, amidst current market biases.
The US nonfarm payrolls at the end of the week will be a focal point, likely setting the tone for the dollar and potentially impacting broader market sentiments. This data, along with the Canadian jobs data and GDP updates, will be crucial in shaping market expectations, especially following the Bank of Canada's rate decision earlier in the week.
This week is packed with significant data releases and central bank decisions, offering numerous trading opportunities across major currencies and commodities.
Our products and commentary provides general advice that do not take into account your personal objectives, financial situation or needs. The content of this website must not be construed as personal advice.
Recommended Content
Editors’ Picks
EUR/USD climbs back above 1.0750 ahead of ADP, Fed Minutes
EUR/USD has regained lost ground above 1.0750 in the European session on Wednesday. The pair draws support from the renewed US Dollar weakness, in the aftermath of the dovish Fed Chair Powell's comments. Eyes turn to US ADP data, Fed Minutes.
GBP/USD retakes 1.2700, looks to US data/Fed minutes
GBP/USD is battling 1.2700 in European trading on Wednesday, attempting a modest bounce. Traders appear reluctant and prefer to wait on the sidelines ahead of the FOMC minutes while the UK elections on Thursday also keep them on the edge. US ADP data eyed as well.
Gold jumps toward $2,350, with eyes on key US events
Gold price is closing in on $2,350 in the European trading hours on Wednesday, staging a rebound amid a fresh leg down in the US Dollar. Gold price capitalizes on dovish Fed Chair Powell's remarks on Tuesday, which added to the September rate cut expectations. US ADP data and Fed Minutes on tap.
Bitcoin price struggles around $61,000 as German government transfers, miners activity weigh
U.S. spot Bitcoin ETFs registered slight outflows on Tuesday. The German Government transferred another 832.7 BTC, valued at $52 million, on Tuesday.
ADP Employment Change Preview: US private sector expected to add 160K new jobs in June
The United States ADP Research Institute will release its monthly report on private sector job creation for June. The announcement is expected to show that the country’s private sector added 160K new positions in June after adding 152K in May.