There are fewer high-impact news items scheduled this week, compared to last week. However, very important central bank input is due from the Federal Reserve of the United States, which is quite likely to provide some significant market volatility, as well as from the Bank of Canada. OPEC will be meeting towards the end of the week.
The market will probably be most active on Wednesday and Thursday.
Monday is a public holiday in Canada and Thursday is a public holiday in Switzerland, France and Germany.
U.S. Dollar
It will be an important week for the greenback, beginning on Wednesday with a release of the FOMC Meeting Minutes as well as Crude Oil Inventories data. Thursday sees the release of Unemployment Claims data. On Friday, we will get Core Durable Goods Orders and Preliminary GDP numbers.
Canadian Dollar
It will be an important week for the Loonie after Monday’s public holiday, focused on Wednesday with the Bank of Canada’s Rate Statement and Overnight Rate.
Euro
It will be a reasonably busy week for the Euro, starting on Monday with Eurogroup Meetings. Tuesday will see the release of German IFO Business Climate data. The President of the ECB will be speaking at a conference on Wednesday.
British Pound
It will be a significant week for the Pound, starting on Tuesday with Inflation Report hearings. Thursday brings Second Estimate GDP data.
New Zealand Dollar
It will be a light but significant week for the Kiwi, centered on Thursday’s annual budget release.
