CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Three markets to watch next week (09.07.2021)

6:14 pm 9 July 2021

This week we saw a lot of uncertainty in the markets, largely due to the rapidly increasing number of new COVID-19 infections in Asia. All this affects not only Asian indices, but also Antipode currencies, i.e. AUD and NZD. Next week the RBNZ and the BoC will present their interest rates decisions and theoretically may signal a moderate normalization of monetary policy in the near future. It is also worth paying attention to GDP figures from China and CPI and retail sales data from the US. Be sure to watch NZDUSD, US500 and USDCAD next week!

NZDUSD

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The Reserve Bank of New Zealand is set to review its monetary policy settings on Wednesday. No major policy changes are expected, however investors will look for more hints on monetary tightening in the coming months. Intensifying inflation pressures are the main driver underpinning expectations of November interest rate increase amid labour shortages and supply chain disruptions. NZD traders should also pay attention to the Q2 GDP readings from China which will be released on Thursday as both economies are closely related to each other.

US500

The S&P 500 reached a fresh all-time high on Wednesday following publication of FOMC minutes, however fears of slowing growth and worries that new Covid-19 variants could stall the global economic recovery led to declines on Thursday. Investors await Q2 earnings season to kick off next week for an update on the private sector recovery. Markets may also react to the key macro data. US CPI figures for June will be released on Tuesday and may indicate whether inflation in the United States is actually only of a temporary nature. It is already expected that CPI inflation for June will slow down to 4.7% YoY from 5.0% YoY in May. If, on top of that, the Fed shifts its rhetoric a bit back to ultra-dovish, we could see further gains on Wall Street. PPI figures on Wednesday, jobless claims on Thursday and retail sales data on Friday round up the calendar.

USDCAD

Next week central bank meetings besides New Zealand will also be held in several other countries including Japan and South Korea. However, the BoC meeting, which will take place on Wednesday, arouses the greatest interest among investors. Markets expect that the BoC will taper QE asset purchases further this month encouraged by robust growth prospects. Purchases are expected to fall to C$2 billion per week by month-end, down from the current C$3 billion.

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.

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