Weekly Financial Market events review

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The new business week, which is the 26th one in 2019, continues to bear some worry for investors in relation to extremely high security risks in the Persian Gulf. The situation ecalated further on Thursday night, June 21, 2019, when the US President Mr. Trump ordered a direct missile attack on Iran, which he canceled ten minutes before the scheduled start. As a result, the price of oil and gold has significantly strengthened its value on the commodity market.

Investors, along with expectations of developments regarding the war tension between Iran and the US, expect the following major events that could affect the trend of global markets:

New Real Estate Sales in the US

New Real Estate Sales Indicator reflects the value of sales from newly built US homes. It is used to measure US housing market conditions. Index growth can have a positive effect on dollar quotations. The data will be published on Monday, June 24, 2019 at 15:00 CET and a rise of 0.673 million to 0.685 million points is expected.

US Consumer Confidence Index

The Consumer Confidence Index (CCI) shows the level of consumer confidence in the stability of the country’s economy. It is designed to evaluate the relative financial status, purchasing power and confidence of an average consumer. If the indicator grows, consumer spending is expected to increase. The value of the index will be published on Tuesday, June 25, 2019 at 15:00 CET and it is expected to decrease from the current 134.1 to 126.3 points.

FED Chief’s Speech

On Tuesday, June 25, 2019 at 16:00 CET, the head of the US central bank, Mr. Jerome Powell, will give his speech. It is expected to give a closer indication of the direction of the US central bank’s monetary policy in relation to the US interest rates.

Bank of England Inflation Report

It includes statements from the Bank of England (BoE) Governor, and several members of the Monetary Policy Committee of the British Parliament. They relate to the latest inflation developments and financial stability reports. It may have a short-term impact on GBP quotations. The meeting will be held on Wednesday, 26 June, 2019 at 10:15 CET.

Monthly US Durable Goods Orders

Durable goods monthly orders reflect the value of orders received by durable goods manufacturers in a given month compared to the previous one. Production of the transport industry is excluded from the calculation. Index development allows short-term forecasts of future production volumes. Its growth can have a positive effect on dollar quotations. The value of the index will be published on Wednesday, June 26, 2019 at 13:30 CET and it is expected to remain at 0.0%.

 

Quarterly Gross Domestic Product

This data is a measure of the total value of goods and services produced in a given country. GDP is the most comprehensive indicator of economic performance and provides a key insight into the drivers of the economy. Several important countries will publish their quarterly results this week: USA – Thursday, June 27, 2019 at 13:30 CET – 3.1% is expected – meaning no change, United Kingdom – Friday, June 28, 2019 at 9:30 CET – 0.5% is expected – meaning no change, Canada – Friday, June 28, 2019 at 13:30 CET – a drop is expected from current 0.5% to 0.1%.

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