Upcoming Economic Calendar announcements
The upcoming 48 hours will most likely set up the tone for the near future and investors are expecting some of the announcements expected today such as:
BOE Gov Carney Speaks (GBP).
German Buba President Weidmann Speaks (EUR).
ADP Non-Farm Employment Change (USD).
ISM Non-Manufacturing PMI (USD).
Crude Oil Inventories (USD).
FOMC Meeting Minutes (USD).
Not only these announcements will affect the markets but also the ongoing concerns over trade wars between U.S/China/Europe – will set up the tone.
Today China informed that the tariffs form China’s side will wait for the U.S ones read more here – https://www.marketwatch.com/story/china-says-its-own-tariffs-will-kick-in-only-after-a-us-move-2018-07-05
Major assets
The dollar index started weakening in the past 2 trading sessions(as happens most of the time before the earnings season…) and due to those assets like the EUR/GBP/Gold/Silver started gaining and enjoying a positive momentum as we will show in the charts ahead:
Dollar Index:
This is how the EUR looks like in the past several sessions with potential movement of 100 pips shall the dollar will continue to weaken:
This is how the GBP looks like in the past several sessions with a potential of 160 pips movement shall the dollar will continue to weaken:
Gold – enjoyed a 22$ movement and holds the level of 1,255 as of now – shall the Dollar will continue to weaken – chances are the asset will visit higher rates of 1,271$ – shall the Dollar grow stronger today/NFP(Tomorrow) lower rates are more expected.
Share your opinion below and stay tuned – more to come…
