Forex Weekly Forecast Jul 13 2015

forex11 eb5qij min
forex11 eb5qij min

Last week, Recap :

1- Early in last week; The yen rebounded due to the deterioration of the situation in Greece, and the decline in Chinese equity markets, supported Japanese Yen!!

2- In the middle of the week, the USD gained a little bit after Federal Reserve Chair Janet Yellen said the central bank was on track to raise interest rates at some point this year.

3- Greece on the way to reach a deal on a new bailout with its creditors, allowing the country to remain on in the euro zone. which led the EURO to gain last Friday !!!

4- Finally, the Canadian dollar gained against the USD on Friday, boosted by the stronger than expected -Employment Change – report, which was an opportunity to buy the bullish USDCAD on dips!

In the week ahead :

1- Developments in Greece will keep dominating situations in Euro-zone , Saturday and Sunday meeting ended with no deal, but Today looks like they have reached for a deal . European officials said an agreement on a new aid program for Greece had been reached.  The details of the agreement were to be announced a press conference later in the day. The EURUSD spikes to 1.1196 levels then declined to 1.1085 at the moment of writing !!! any rise should limited by resistance levels since weekly chart still pointing down ! (details of the agreement may push the pair up once again )!!

2- On Wednesday , China will release data on second quarter growth..

3- Later in the week , Focus will be on monetary policy statement by ECB and central banks in Canada and Japan !!

4- Let’s take a quick look at the most critical events which may affect currency market in the upcoming days :

Monday Jul 13 2015:

China will release data on the trade balance.

Tuesday Jul 14 2015:

U.K will release data on Consumer Price Index.

From EURO-ZONE , Germany will release a report on ZEW Economic Sentiment.

U.S will release data on Retail Sales and Core Retail Sales.

Wednesday Jul 15 2015:

China will release data on second quarter growth (GDP) as well as data on Industrial Production.

Bank of Japan monetary policy report followed by the (BOJ) press conference.

U.K will release data on Average Earnings Index +Bonus (May) as well as data on Claimant Count Change.

U.S will release data on Producer Price Index (PPI) , later on the day , the Federal Reserve Chair Janet Yellen will  testify on the semiannual monetary policy report .

Bank of Canada Monetary Policy Report, which includes Interest Rate Decision followed by BoC Gov Poloz Speaks.

New Zealand will release data on Consumer Price Index (CPI).

Thursday Jul 16 2015:

Euro-Zone will release data on Consumer Price Index (CPI).

European Central Bank (ECB) Monetary Policy Report, which includes Interest Rate Decision followed by President Mario Draghi speaks.

The U.S. will release the weekly report on initial jobless claims.

Fed Chair Janet Yellen will testify on the semiannual monetary policy report. In the same time , The U.S will release data on Philadelphia Fed Manufacturing Index.

Bank of England Gov Carney Speaks.

Friday Jul 17 2015:

U.S will release data on consumer inflation as well as data on Building Permits .

Canada will release data on consumer inflation (CPI and core CPI).

U.S will end the week with data on Michigan Consumer Sentiment.

 

You may follow events live at: Live Calendar

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