A change in retail sales is one of the most important economic indicators for the US economy and the USD.
Will the oil prices rise?
The organization of the petroleum exporting countries (OPEC) and non-OPEC oil producers (Russia) will meet on July 1-2. The press conference of OPEC members is scheduled at 18:00 MT time on Monday, while the final joint press conference of all producers is expected on Tuesday at 14:00 MT time. The countries will decide on the extension of the ongoing production cuts. As the cuts failed to curb the oversupply in the first half of the year, it would be interesting to look at the next steps by OPEC+, especially by Russia and Saudi Arabia. Will the countries succeed in making the oil prices higher?
• If OPEC+ extends the production cuts, the oil prices will go up;
• If OPEC+ fails to extend the production cuts, the oil prices will go down.
Note, that you need to choose BRN-19Q to trade Brent and WTI-19Q to trade WTI in the MT4 platform
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New Zealand will publish the level of GDP growth at 23:45 MT time on December 18.
The ECB will announce the main refinancing rate at 14:45 and give a press conference at 15:30 MT time on December 12.
The Federal Funds Rate is announced at 21:00 MT time on December 11.