Overview for the Week Ahead

In the week ahead, investors will again keep their focus on the US central bank with Fed Chair Jay Powell set to testify before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday morning as part of his semi-annual testimony before lawmakers.

The economic calendar will also be relatively quiet with investor attention on Thursday’s initial jobless claims data continuing to build amid signs the labour market is softening, while initial looks at manufacturing and service sector activity from S&P Global out Friday will provide a look at how the US economy is rounding out the second quarter.

US markets will be closed on Monday in observation of Juneteenth.

Bitcoin fell 0.97% over the last 24 hours to US$26,308, but held onto a weekly gain of 1.58%, according to data from CoinMarketCap.

The world’s largest cryptocurrency breached the US$26,000 level on Saturday to reach a seven-day high of US$26,769. The token had slumped to three-month lows at the end of last week.

Ether edged down 0.82% to US$1,716, logging a weekly loss of 2.18%.

With the exception of XRP, other top 10 non-stablecoin cryptocurrencies traded lower in the past 24 hours. Polygon’s Matic led the losers, slumping 3.22% to US$0.5971 and down 5.88% over the past seven days.

Have your trading charts ready for a very busy week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 19^th June

• No High Impact Events

Tuesday 20^th June

• 04.30 – Australia – Monetary Policy Meeting Minutes

Potential instruments to Trade: AUD Crosses. 

Wednesday 21^st June

• 09.00 – UK – CPI y/y

Potential instruments to Trade: GBP Crosses. 

• 15.30 – Canada – Core Retail Sales m/m, Retail Sales m/m

Potential instruments to Trade: CAD Crosses. 

• 17.00 – US – Fed Chair Powell Testifies

Potential instruments to Trade: USD Crosses. 

Thursday 22^nd June

• 10.30 – Switzerland – SNB Monetary Policy Assessment, SNB Policy Rate

Potential instruments to Trade: CHF Crosses. 

• 11.00 – US – FOMC Member Waller Speaks

Potential instruments to Trade: USD Crosses. 

• Tentative – Switzerland – SNB Press Conference

Potential instruments to Trade: CHF Crosses. 

• 14.00 – UK – MPC Official Bank Rate Votes, Monetary Policy Statement, Official Bank Rate

Potential instruments to Trade: GBP Crosses. 

• 15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses. 

• 17.00 – US – Fed Chair Powell Testifies & Existing Home Sales

Potential instruments to Trade: USD Crosses. 

Friday 23^rd June

• 09.00 – UK – Retail Sales

Potential instruments to Trade: GBP Crosses. 

• From 10.15 – Europe – Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: EUR Crosses. 

• 11.30 – UK – Flash Manufacturing, Flash Services PMI

Potential instruments to Trade: GBP Crosses. 

• 16.45 – US – Flash Manufacturing, Flash Services PMI

Potential instruments to Trade: USD Crosses. 

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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