Market Brief 30 June: High-impact events this Friday
Friday is here and we have plenty of market- moving events on the calendar. Let’s see what to expect.
EUR 08:55 a.m. GMT+1, German Unemployment Change- analysts forecast a change in the number of unemployed at -10K for the month of June, compared to May’s -9K. An actual number with higher number of unemployed should be read as a negative sign for the Euro. If the number of unemployed has dropped, this should boost the currency even further.
GBP 09:30 a.m. GMT+1, GDP (QoQ) (Q1)- we have two GDP numbers coming out today and the quarterly reading has more weight and importance to market participants. So, this is the number to cause market volatility. Experts forecast no change in the quarterly GDP at 0.2%, same as last time. If the results come out better than expected, this should imply strength for the sterling. And, if the reading is markedly lower than expectations, then this should be read as a bearish sign.
GBP 09:30 a.m. GMT+1, GDP (YoY) (Q1)- analysts expect no change for the Year over Year cumulative number at 2.0%, same as for the last period.
EUR 10:00 a.m. GMT+1, CPI (YoY) (Jun) P- this is the preliminary number for Consumer Price Index which measures the level of inflation from consumer perspective in the European Union. Predictions are for a slight decrease at 1.2% for June versus 1.4% for the last period. A higher actual number should be seen as positive for the euro, while a lower than the expected result should be read as weakening the currency.
CAD 13:30 p.m. GMT+1, GDP (MoM)(Apr)- analysts expect a mild weakening in the performance of the economy at 0.2% versus the previous 0.5%. Strength in the value of the currency could be reflected by a higher than expected number, while lower actual results would be of devaluing influence.
For more events and results, see the economic calendar: https://tradeo.com/market-tools/economic-calendar
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