Next week the situation on the Forex market is expected to be more active, than even during the previous one. There will be much news released all over the world, which may turn the situation on the market upside down. Taking into consideration the last-week’s news releases from Europe, which turned out to be extremely negative and brought the European currency down, it could be admitted that this week might also be a Forex disaster for EUR.
Talking about Forex news, it’s vital to say some words about the introduction of the Bank of Japan target rate & monthly report, the publishing of news on Japanese import & export volume, jobless rate and industrial production.
In the USA there is also pretty big amount of economically important information to be published throughout the trading week: annualized GDP change, new & existing home sales, consumer confidence index. And the main data from the United States to be awaited by all market participants and Forex signals users is, of course, the FOMC decision on interesting rate. The majority of experts predict it to remain at the same level, but some negative news from Europe can really change the situation.
What concerns Europe, the news on import price index, IFO business climate, consumer price index and unemployment rate will be released in Germany, which is the largest economics on the whole continent. At the same time the GDP change will be also introduced in the United Kingdom, which can be quite unpredictable in connection with the latest news from the market.
At this rate it’s possible to say, that on Monday EUR/USD is likely to rise a little bit and maybe to reach the point of 1.4200. GBP/USD might go up as well and end the trading day at about 1.6180.
