Major Currencies Overview
It’s a big week for the Greenback since the U.S. has the FOMC decision coming up AND the NFP release due, too!
No actual interest rate changes are expected for now, but expectations for hawkish remarks and an upbeat jobs report might keep the dollar supported. Before profit-taking ensues, that is. Read more.
Crude oil price action and market sentiment could push Loonie pairs around this week in the absence of major reports from Canada.
The monthly GDP reading for February is up for release, though, along with the trade balance and a speech by BOC Governor Poloz. Read more.
EUR & CHF
The week might be off to a slow start for this tandem as European banks are closed for Labor Day on May 1.
After that, a bunch of medium-tier reports are lined up from the euro zone, as well as the flash GDP and CPI readings from the region. As for the franc, SNB head Jordan’s testimony could be something to watch out for. Read more.
U.K. banks are also closed on Tuesday for the Labor Day holiday and I wouldn’t be surprised if Brits take off on Monday as well to enjoy a little bit more sunshine.
Industry PMIs are lined up for the rest of the week, with analysts expecting small improvements that could boost BOE hike expectations. Read more.
AUDThe Aussie could be in for an exciting week, with the RBA interest rate statement scheduled for Tuesday’s Asian session.
No actual interest rate changes are eyed, but traders are likely to read between the lines of the official statement to gauge any tightening clues. Read more.
The Kiwi tossed and turned as risk sentiment kept flipping on a dime in the previous week. This time, the quarterly jobs report could determine Kiwi direction. Read more.