Today is Memorial Day in the United States, and most European banks are closed too. Therefore, liquidity in financial markets is thin, with little or no volatility expected.
However, the week ahead is full of important economic and financial events that will move markets. Here are four events any trader should consider this week:
- Litecoin price forecast: here’s why LTC could surge to $220
- Survey reveals $270K salary seen as key to financial success in the US, but many fall short
- SOL, XRP lead top altcoins as EOS and MANA soar
- Power of the pause: why top leaders are embracing sabbatical
- Solar costs in India set to rise as China ends rebate on panels
Australian CPI
Inflation still runs way above central banks’ target all over the world. Australia is no different, and this week, the CPI or Consumer Price Index is expected to rise to 6.4% YoY from 6.3% previously.
The Australian dollar was weak in May, but a higher inflation print should boost the case for a hawkish RBA statement at the next meeting. If inflation surprises to the upside, the local currency should benefit.
ISM Manufacturing
On Thursday, all eyes will be on the ISM Manufacturing data from the United States. The manufacturing sector is in contraction, but the jobs market remains resilient.
Should we see a bounce back closer to the 50 level, then optimism about the ability of the US economy to avoid a recession will rise.
European CPI
Unlike Australian inflation, European inflation is expected to decline to 6.3% from 7% previously. The data, expected on Thursday, will have huge implications for the upcoming ECB meeting and, thus, will move the euro.
Non-Farm Payrolls
Because next Friday is the first one of the month, traders know that this is the time for the US jobs report to be released. The expectations are that the US economy added 189k jobs in May, and the unemployment rate increased to 3.5%.
Source : https://invezz.com/news/2023/05/29/4-events-to-impact-financial-markets-this-week-and-why-should-traders-care/
