Summary of the most interesting economic events from the trading week of July 25-31, 2022 | F. X. C. G.

Welcome to our regular Monday recap of what happened in the last trading week, which brought a number of interesting things.

GBP

In the middle of the week came the latest UK GDP data. The UK economy unexpectedly grew by 0.5 % month-on-month in May 2022, recovering from a 0.2 % contraction in April and beating market estimates.

USD

On Thursday we could see an interesting "natural phenomenon" on the EUR/USD currency pair, where a currency parity was created, i.e. that 1 EUR = 1 USD. This parity last occurred in December 2002.

CAD

The Bank of Canada surprised the markets on Wednesday by raising its key interest rate by one percentage point (100 bp).

HINT: the full statement can be found here:

https://www.bankofcanada.ca/2022/07/fad-press-release-2022-07-13/

NZD

The Reserve Bank of New Zealand also raised rates on Wednesday by 50 basis points, as expected.

And what's in store for the current trading week?

The Bank of Japan will meet at 5:00 on Thursday to decide on the current monetary policy settings.

The European Central Bank will also meet on the same day at 14:15, where we expect a 25 basis point rate hike.

Sources:

https://www.investing.com

https://www.forexlive.com

Want to read a complete summary of economic events?

Arm yourself for victory

Market analysis and outlooks

Every week, we'll send you on our telegram channel fundamental and technical summary, emergency alerts and the outlook for the week ahead.

This will give you a better understanding of fundamentals and how we think about forex. Plus, you'll find all the important information you need in one place you need for your business.
More information
en_GBEnglish
linkedin facebook pinterest youtube rss Twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube Twitter instagram