Monday, June 21 Traditionally, the beginning of the trading week is accompanied by an empty economic calendar. This is not a bad thing, as the lack of news will help market participants to analyze the situation and future trends following the recent meeting of the Federal Open Market Commission. Attention should be paid only to the speeches of the ECB President Christine Lagarde. Tuesday, June 22 Tuesday is also not rich in macroeconomic publications. The only thing that you can pay attention to is the sale of housing in the secondary market in the United States. The indicator may decline by 1.0%, so this data is unlikely to support the dollar. In the evening, the head of the US Federal Reserve System (FRS) Jerome Powell will make a speech. There will also be data from the American Petroleum Institute (API) on crude oil reserves in the United States. Wednesday, June 23 On Wednesday, preliminary data on PMIs in many countries are published. These statistics will not bring anything good to the US dollar, as all indices are expected to decline. Decline in business activity will also be recorded in the UK. But in Australia, Japan and the European Union, its growth is predicted. Canada is somewhat out of the picture, where retail sales data will be published instead of PMIs. These data could weaken the Canadian dollar as sales are expected to decline by 5.1%, which is quite a lot. In the United States, in addition to the decline in business activity indices, a decline in new home sales is forecast (by 2.1%). Thus, Wednesday also turns out to be not a good day for the US dollar. Thursday, June 24 The main event of Thursday and the whole week will be the meeting of the Board of the Bank of England. Market participants do not expect any changes in monetary policy, but it is very important what comments on further plans will be left by representatives of the regulator. If the British Central Bank announces a specific time frame for raising the refinancing rate, the pound may well seriously strengthen its position. In the evening hours, the dollar may be under pressure from data on the number of applications for unemployment benefits: the indicator may rise slightly. Durable goods orders, which could rise by 2.0%, will help alleviate this pressure. Also on Thursday you should pay attention to the data on US GDP for the first quarter. Friday, June 25 The week will also end with a completely empty macroeconomic calendar. However, it is worth considering the fact that the US dollar will be under pressure for almost the entire week, and the lack of news may contribute to some positive correction of the greenback.
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