Let’s improve our odds by taking a look at these potential catalysts!
FOMC members’ scheduled speeches
- Governor Powell has THREE opportunities to repeat the Fed’s main biases from the previous week
- He will testify before the Senate Banking Committee on June 16, 2:00 pm GMT and the House Financial Services Committee on June 17, 4:00 pm GMT, and will participate in a virtual panel discussion on June 19, 5:00 pm GMT
- Dallas’ Kaplan (June 15, 3:00 pm GMT) will speak before the Money Marketeers of New York University
- Clarida (June 16, 8:00 pm GMT) has a speech scheduled
- Cleveland’s Mester will talk COVID-19 response at a Council for Economic Education event on June 17, 8:00 pm GMT and June 18, 4:15 pm GMT in a panel discussion
- Quarles (June 19, 4:00 pm GMT) will talk bank stress tests
U.S. economic reports
- Headline retail sales (June 16, 12:30 pm GMT) to rise by 6.0% after falling by 16.4% in April
- Core retail sales could pop up by 5.0% after April’s -16.2% read
- Industrial production (June 16, 1:15 pm GMT) seen at -2.0% from -11.2%
- Weekly initial jobless claims (June 18,12:30 pm GMT) to add another 1.28M new claimants?
Market risk sentiment
- Concerns over a second wave of COVID-19 infections in the U.S. and around the world could keep the safe haven dollar supported
- If focus returns to major economies reopening, then USD could lose its shine and extend its downtrend against its higher-yielding counterparts
- Stochastic considers the dollar “oversold” against the yen
- Watch out for similar signals against EUR, CHF, and NZD in the next few trading sessions
- The dollar is on short and long-term downtrends against the yen
- USD is starting to gain support against the comdolls and the European high-yielding currencies
- Watch USD/CAD and GBP/USD for retracement or reversal opportunities
- The dollar was most volatile against the comdolls and the pound in the last seven days
Missed last week’s price action? Read USD’s price recap for June 8 – 12!