This week, investors' attention will focus on many important forex news, represented in the minutes of the last meeting of the Federal Reserve, which is scheduled to be released next Wednesday, in order to know any new indications about the future of monetary policy and the gradual increase in US interest rates and the reduction of the balance sheet of the Council, which amounts to 4.5 trillion Dollars, and investors are also waiting for many important economic data in the United States, which are represented in the monthly employment data in the non-agricultural sector, which is scheduled to be released on Friday. The speeches are expected to rise in interest rates during the past week, and on the other hand, the Canadian economy will issue this week many important data represented in employment data in the country amid speculation that the Canadian Central could raise interest rates early this month, and the focus will also be on On monetary policy from the Reserve Bank of Australia.
Here are the details of the most important forex news for this week:
- Minutes of the last monetary policy meeting of the Federal Reserve
At 2:00 ET on Wednesday, the Federal Reserve is scheduled to release its report on the minutes of the last monetary policy meeting, and it is also scheduled that a number of monetary policy officials in the Fed will make several statements regarding the bank’s future policy. James Pollard, President of the Federal Reserve Bank of St. Louis, John Williams, President of the Federal Reserve Bank of San Francisco, Stanley Fisher, Vice President of the Federal Reserve, in addition to Jay Powell, Governor of the Federal Reserve.
It is worth noting that the US central bank had raised interest rates for the second time this year by 25 basis points during its previous meeting, which was held in the middle of last month, to come this decision in line with expectations, indicating the possibility of raising it gradually during this year, if the economy reaches The bank's targets, the board also announced the details of the plan to reduce the balance sheet, which amounts to 4.5 trillion dollars in treasury bonds and securities backed by mortgages.
Traders are currently pricing in the chances that the Federal Reserve will raise interest rates by about 20 % during the board’s meeting next September, according to the Federal Reserve’s monitoring tool, while the possibilities of increasing it in the month of December are about 50 %.
- Non-farm payrolls report in the United States for the month of June
One of the important forex news this week is the US Department of Labor's release of its monthly report on the non-farm payroll sector for the month of June, at 8:30 am ET (12:30 GMT) on Friday.
Expectations are expected that these data will show an increase in the number of jobs by 180 thousand jobs after an estimated increase of 138 thousand in the month of May, while expectations indicate that the unemployment rate will remain constant by 4.3%, and the average hourly income is expected to increase by 0.3% within a month. Previous June after rising 0.2% in May.
Besides the employment report, the calendar that was shortened due to the holiday this week also features many important reports from the United States represented in the growth data of the manufacturing sector, the service sector, auto sales and factory orders, in addition to the monthly trade numbers.
Markets in the United States are scheduled to remain closed on Tuesday for Independence Day.
- Carney, Governor of the British Central Bank
At 1200 GMT (8:00 a.m. ET) it is scheduled to speak, “Mark Carney,” Governor of the Bank of England at the Financial Stability Board in the German city, “Frankfurt”, and “Carney” is also scheduled to speak again in the meetings of the Group The 20th in Hamburg, Germany, later on Friday.
His comments will be closely watched for any new hints about policy and when the BoE will start the next rate hike, noting that there has been a significant shift in interest rate hikes by BoE monetary policy officials over the past two weeks.
At the same time, investors are focusing with keen interest on three of the most important reports on activity in the manufacturing, construction and services sectors, which will reveal the continuing negative impact of the "Brexit" decision on the British economy.
4. The Canadian economy will release its monthly employment data
Also from the important forex news, at 8:30 am local time (12:30 GMT) on Friday, Canada will publish employment data, and expectations indicated that these data show that the Canadian economy has added about 15 thousand jobs during the month The previous June, after an estimated increase of 54,500 jobs in the month of May, and the unemployment rates are expected to remain constant unchanged to remain at 6.6 %.
In addition to the jobs report, Canada is scheduled to release monthly trade data, building permits and industrial survey.
On the other hand, expectations await an increase in interest rates during the next meeting of the Central Bank of Canada, which is scheduled for the twelfth of the current month of July, especially after “Stephen Poloz,” the bank’s governor, confirmed during his statements last week that the bank’s cuts in 2015 had done their job.
- Minutes of the monetary policy meeting of the Australian Reserve Board
At 04:30 GMT on Tuesday, the Reserve Bank of Australia is scheduled to release its latest interest rate decision, and the expectations of most economists have indicated that the Australian Central Bank will remain on interest rates without any significant changes to remain at its current levels of 1.5 %. For the 10th consecutive meeting, the bank is also expected to maintain its neutral policy stance as it balances the risk of rising household debt from weak inflation and wage growth.
Besides the minutes of the Reserve Bank of Australia meeting, Australia is also scheduled to release several important economic data such as retail sales and trade balance.
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