Today, early in the morning, statistics are released on the change in China's real GDP. Market participants will receive an increase in GDP by a quarter a year earlier. In addition to the figures for GDP, statistics on the volume of industrial production will be published. Statistics are expected to be good, and if confirmed, the stock markets will receive some support, as China is the largest consumer of industrial metals and oil. Of course, oil prices will also receive some support from the positive data on China's GDP.
In Japan, Board Member of the Bank of Japan Sakurai delivered a speech, in which he expressed the opinion on the need to adhere to world standards for targeting inflation close to 2%.
At present, the Bank of Japan does not plan to change the ultra-soft monetary policy, and the Bank of Japan expects to see effects in the near future from the current policy.
For market participants, such a statement allows us to conclude that the Japanese yen has a high chance to weaken its positions, but it is required that geopolitical risks come to naught.
In 08-30 GMT, the volume of retail trade in the UK is out.
In general, this week is very rich in statistics from the United Kingdom. However, at present the British pound is under pressure due to the situation surrounding the process of withdrawal from the EU. Despite the release of statistics that allow the Bank of England to raise the interest rate, for example, inflation in the UK has reached a record level since 2012, the pound continues a sluggish decline against most of the currencies. Exchange speculators are clearly waiting for news on BREXIT, and with some positive news, the British currency will rush towards the north. It is important to keep your hand on the buy button, so as not to miss the impetuous impulse movement.
In the US, market participants will receive a number of initial applications for unemployment benefits. It's all simple. A good figure will undoubtedly support the US currency and will strengthen the chances of raising the basic interest rate in December.
This week, Donald Trump may present a candidate for the post of head of the Fed. From favorites Kevin Warsh and Jerome Powell. And there is room for intrigue - Warsh is a hawk, while Powell - not exactly a dove, is definitely not a hawk either! When news of possible candidates appears, currency pairs will inevitably experience some turbulence, and in order avoid injuries in the form of loss of a part of the deposit, stock speculators should always be fastened with seat belts in the form of prudent risk management. We wish you profitable trading!
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