WEEKLY ECONOMIC CALENDAR AHEAD
Here is what you need to know about the important news between July 18th, 2022 and July 22nd 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
The US Dollar index extended Friday’s pullback, amid cautious optimism, along with downbeat inflation data expectations on US. The DXY touched the 109 during last week, pulling back by the end of the week to the 107 levels.
Gold
The precious metal pushed down to the 10-month low, on 1700 level. The strength of the greenback is the major driver for the precious metal, with investors focusing and waiting for any hint, regarding the upcoming FOMC meeting for the Federal Reserve Funds Rate, which is expected on the 27th of the month.
Oil
Last week, Crude and Brent oil posted their biggest weekly drops in about a month, on fears of a recession that will hit oil demand. However, Biden trip to Saudi Arabia failed to reach an agreement with the middle east to boost supply, driving the prices up again. Crude Oil Inventories announcement, expected to be released on Wednesday at 14:30 (GMT).
European Central Bank
European Central Bank is expected on Thursday 21st of July at 12:15 (GMT) to announce the interest rates decision, which is expected to be raised to 0.25% for the first time since 2016. Rates were stable to 0% for the past 6 years and increase this week on the rates to go above zero, it might be the boost that the currency needs.
Economic calendar most important releases (times are in GMT)
Monday, July 18, 2022
All Day JPY Bank Holiday
Tuesday, July 19, 2022
01:30 AUD Monetary Policy Meeting Minutes
Tentative GBP BoE Gov Bailey Speaks
18:35 USD FOMC member Brainard Speaks
23:10 AUD RBA Gov Lowe Speaks
Wednesday, July 20, 2022
06:00 GBP CPI y/y
12:30 CAD CPI m/m
Thursday, July 21, 2022
12:15 EUR Main refinancing Rate
12:45 EUR Monetary Policy Statement
Friday, July 22, 2022
07:30 EUR German Flash Manufacturing PMI
07:30 EUR German Flash Services PMI
13:45 EUR Flash Services PMI
Thanks for reading! Have a great week!
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