The US GDP and US Revised UoM Consumer Sentiment together with the G8 and G20 meetings in Ontario and Toronto, Canada closes this week’s trade. Let’s review the events awaiting us today.
In the US, Final GDP expected to maintain 3.0% from the previous quarter reflecting a deceleration in the market. The Final GDP Price Index also rebounds at 1.0% as in the previous quarter.
More in the US, Revised UoM Consumer Sentiment is likely to remain 75.5% following the rise in May and the Revised UoM Inflation Expectations is about to maintain the reduction in May reaching 2.7%.
For more on USD/CAD, read the Canadian dollar forecast.
Canada will chair the G-8 Summit, which will be held in Ontario’s Muskoka region. Immediately afterward, Canada will host the G-20 Summit, which will take place in Toronto. The leaders of the world’s most industrialized countries gather annually at the G-8 summits to discuss a broad range of issues, such as fiscal and monetary policy coordination and international development. Industrialized and leading emerging countries also meet regularly at G-20 meetings, which have become an important international forum to advance economic cooperation. The honorable Peter Van Loan, Minister of International Trade, calls for increased focus on free and open trade, pointing to the Canada-United States relationship as an example of a free trade success story.
In Europe, German Import Prices expected to drop 1.0% from the unexpected rise of 2.0% in May.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
In Switzerland, Swiss National Bank Quarterly Bulletin Monetary policy report’ and ‘The economic situation from the vantage point of the delegates for regional economic relations’, and is used by the Governing Board for the quarterly assessment. It has a mild affect on the market since much of the information is released 2 weeks earlier in the Monetary Policy Assessment.
That’s it for today. Happy forex trading!
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