The US unemployment claims are announced on Thursday at 15:30 MT time.
Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
It's not a secret that GDP represents an important indicator that demonstrates the economic activity of a country. Thus, the fall of 5% announced during the previous release indicated the weakening US economy. The reasons behind that plunge were, of course, connected with Covid-19, shutdowns, and uncertain economic outlook. Since then, the situation has got better with restoring business activity and employment. However, the outlook is still uncertain and the coronavirus cases in the US keep rising. Will we see the advance GDP growth rate for the previous quarter going down or stabilizing?
- If the indicator is higher than the forecasts, the USD will rise;
- If the indicator is lower than the forecasts, the USD will fall.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
The US CPI and core CPI are due at 15:30 MT time on May 12.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.
UK Services and Manufacturing PMIs are announced on Friday at 11:30 MT time.