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An important event is expected in the Forex market
An important event is expected this week in the Forex market: the Fed meeting. The Fed Chair Janet Yellen will speak at the final press conference on Wednesday. Market participants expect to receive information about the rate hike timing. Most of them now expect it to happen in June 2015. US Unemployment Claims, Philly Fed Manufacturing Index and Leading Index will be released on Thursday. The outlook is neutral. There will be no significant macroeconomic data reported in the US on Friday. Trade Balance in January will be published in the euro zone on Wednesday. According to our analysts’ opinion, its forecast is negative. No more important economic reports affecting the euro will be released this week.
On Wednesday morning, the Bank of England will publish data which may affect the pound. It has been weakening against the dollar for two straight weeks on the talks about a possible leaving of the EU by the UK, in case the Conservative Party wins the parliamentary elections on the 7-th of May. Among other currency pairs, a similar trend is demonstrated by the Aussie. Its fluctuations might be influenced by the Reserve Bank of Australia meeting minutes, which will be reported on Tuesday. This was all for the week, thank you and see you next week.
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