Forex Weekly Outlook for July 11th – 15th

Last Friday, the euro lost ground vis-a-vis the US dollar, trading at 1.4263 at the end of the day.

The single currency was down 0.68% on the day and had reached a session high of 1.4369 with a low of 1.4207 so far.

Top Economic Events to Watch for This Week:

The Bank of Japan (BOJ) Interest Rate Decision – The Bank of Japan is set to announce its interest rate decision on Monday. The rate is currently at 0.10% and most analysts predict that rate will remain unchanged.

US Trade Balance – The Bureau of Economic Analysis is set to release the US Trade Balance report on Tuesday at 13:30 GMT. Experts anticipate a slight deterioration in the trade balance from -43.7B last month to -44.0B.

UK Claimant Count Change – The Office for National Statistics will announce the Claimant Count Change on Wednesday at 09:30 GMT, which measures the change in the number of unemployed people in the UK in the last month. Forecasts are quite positive with a fall anticipated from 19.6K last month to 15.0K this month.

US Retail Sales – In the US, the Census Bureau will publish the monthly Retail Sales figures at 13:30 GMT on Thursday. Analysts forecast a slight rise from -0.2% to 0.0%.

US CPI – The Consumer Price Index in the US which measures the variation in the price of goods and services in June, is set to be released on Friday at 13:30 GMT.

Chart of the EURUSD last week:

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By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.