This will be a news heavy week for the dollar with Core Durable Goods Orders being released today, the Conference Board Consumer Confidence which can predict consumer spending will be released tomorrow, on Wednesday the most notable release will be the oil inventories as well as the Goods Trade Balance. The most important news release for the dollar this week will be the GDP Quarter over Quarter which will be released on Thursday. There is an expectation that the GDP will shrink by over 30%.
In terms of the rand this week, their monthly CPI and Core CPI will be released on Wednesday. The president of South Africa has stated that the Unemployment Rate in the country is likely to worsen.
There was a spike in corona virus cases reported in Victoria, Australia today with the over 500 new cases expected to be reported. There will also be a CPI and PPI release, monthly and yearly for the Australian dollar which comes out on Wednesday and Friday respectively.
In terms of the pound the only thing to look out for this week in terms of news releases would be the Nationwide HPI which measures the change in selling price of homes with mortgages.
The euro zone will also be releasing their GDP on friday along with their CPI and Core CPI. Canada too will also be releasing their monthly GDP on Friday.
Always check for upcoming news releases when executing trades and remember to stick to your trading plan. Hit the subscribe button below to receive e-mail notifications sent directly to your e-mail.