Welcome to our regular Monday recap and outlook. Last week was surprising, both from central banks and in world events. So let's take a look together at what happened and what the current trading week will bring.
GBP
On Wednesday, the market was awaiting data on the current inflation rate in the United Kingdom. Consumer price inflation (CPI) remained unchanged in May, but above market expectations, which had been expecting a slight decline.
USD
On Wednesday and Thursday, Fed President Jerome Powell testified before the Joint Economic Committee in Washington. The testimony consists of two parts: the first part is a prepared statement, then the committee conducts a question and answer section. There may be strong market volatility during the question and answer portion of the testimony.
CHF
At Thursday's meeting, the Swiss National Bank raised the key interest rate by 25 basis points.
CZK
The Czech National Bank left the interest rate unchanged, as expected.
In the weekly telegram group we sent our technical outlook on the USD/CZK currency pair, where we saw a potential zone to buy (long).
What's in store for us in the current week?
The current trading week will be a bit weaker. We will focus our attention on the following events:
Tuesday 27. - Canadian inflation rate (14:30)
Sources:
