This week has been relatively calm on the markets, especially if we weigh it against volatility from a week before. However, things may get more interesting next week as investors will be offered US jobs data for June. EUR traders will tune in on Wednesday for a flash European inflation reading for June. Be sure to watch US500, GOLD and EURUSD next week!
US500
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Create account Try a demo Download mobile app Download mobile appS&P 500 managed to recover from the latest sell-off this week and has reapproached an area marked with all-time highs. NFP report for June will be released next Friday at 1:30 pm BST. Release for May missed expectations significantly. However, stock markets were unimpressed by weaker readings in the previous months as slower-than-expected recovery of the labour market suggests that Fed will keep loose monetary policy for longer. Will it be the same this time?
GOLD
Hawkish comments from Fed's Bullard on June 18 pressured the price of the precious metals. However, Fed speakers went to great lengths this week to assure markets that monetary policy tightening will not arrive before substantial progress on goals is made. It was enough to halt sell-off on the gold market. Nevertheless, it was not enough to revive precious metals' uptrend. While there are almost no Fed speeches scheduled for the week ahead, release of the NFP report on Friday is likely to have an impact on the gold market.
EURUSD
EURUSD dropped to a 2.5-month low as the US dollar strengthened in the aftermath of the FOMC meeting. Key macro release from the euro area next week is scheduled for Wednesday, 10:00 am BST - flash release of inflation data from euro area for June. However, crucial data from member countries will be released a day earlier with German reading scheduled for Tuesday, 1:00 pm BST. Market expects a slowdown in price growth.
