Market Weekly Outlook Jul 27 2020

Forex- money-656569

It’s a busy week ahead, with plenty of economic data to consider. As COVID-19 cases continue to rise. The economic situation is unstable around the world. The economic recovery or it may stop until a vaccine appears for Coved 19.

U.S Economic Events:

At the beginning of the week. June’s durable and core durable goods orders are due out along with July consumer confidence figures.  

On monetary policy, the Federal Reserve will deliver the monetary policy decision for July on Wednesday. Although the rate cut is not in sight. The markets want to secure more support and perhaps some adjustments to the asset purchase program.

In general, the focus will be on the impact of the COVID-19 Crisis on the US economy and related decisions. The press conference will receive great attention.   On Thursday, the focus will then shift to 2nd quarter GDP numbers and the weekly initial jobless claims figures.

EURO-Zone Economic Events:

At the start of the week, July’s IFO Business Climate Index figures are due out of Germany.

On Thursday, 2nd quarter GDP and July unemployment figures are due out of Germany.

At the end of the week, EURO-ZONE consumer inflation figures are in focus.

Despite initial agreement on the mechanisms of the European Recovery Fund. To support the euro at the current levels, more progress needs to be made in this area. You can follow economic events in real-time at